CIM, LLC v. Series Protected Cell 1, A Series of Oxford Insurance Company TN, LLC
October 30, 2023
An insurer failed to escape a wealth management company's lawsuit seeking coverage for a $1.5 million wire fraud loss, with a Tennessee federal court finding that the insurer hasn't yet established that it is entitled to judgment on the pleadings.
July 12, 2023
A New York wealth management company's $1.5 million wire fraud loss is not covered by its insurance policy, the company's insurer told a Tennessee federal court, arguing that the loss was excluded because it occurred after an employee was duped into fraudulently transferring money from personal accounts.
May 12, 2023
A New York wealth manager who lost over $1.5 million after his employee was duped into fraudulently transferring large sums of money from his personal accounts told a Tennessee federal court his insurer should cover his losses.