Insurer Must Cover Theft Of 5,000 Tires, Suit Says

Law360, Los Angeles (December 1, 2015, 9:23 PM EST) -- Hankook Tire America Corp. sued Samsung Fire & Marine Insurance Co. Ltd. in New York state court Monday, claiming the insurer acted in bad faith in denying its claim for nearly $1.4 million in coverage for more than 5,000 stolen tires.

Hankook alleged in its lawsuit that Samsung unreasonably delayed making a decision on whether to cover $1.35 million in losses the tire company suffered due to the theft of 5,353 truck and bus tires from its Rancho Cucamonga, California, warehouse before ultimately rejecting the claim.

"Even though Hankook satisfied its burden to file a timely notice of claim, establish an...

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