Insurer Can't Recoup $9M Payout For Drug Theft: 3rd Circ.

Law360, New York (December 6, 2017, 9:38 PM EST) -- The Third Circuit on Wednesday refused to revive AXA Corporate Solutions Assurance's bid to recover its payout for the theft of a nearly $9 million pharmaceutical shipment from Sanofi-Aventis to McKesson Corp. that it insured, agreeing with a lower court that the carriers can't be held liable under a federal shipping law.

In an unpublished opinion, a three-judge panel of the appeals court upheld a district court's dismissal of AXA's claims against Great American Lines and subcontractor MVP Leasing Inc. AXA had contested the lower court's...
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