Gold Retailer Tells Texas Justices Coin Theft Was Covered

Law360 (May 18, 2021, 6:45 PM EDT) -- A gold retailer has urged the Texas Supreme Court to rule that underwriters at Lloyd's of London are on the hook for its nearly $1.2 million losses after a cybercriminal used forged checks to steal two gold coin shipments.

Dillon Gage Incorporated of Dallas on Monday asked the state high court to hold that its losses were not caused by its handing over of gold coin shipments based on fraudulent checks but by UPS' errors in allowing the criminal to take the packages without signing. The gold retailer said UPS' shipping error is a separate event covered by the policy.

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