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In an unpublished opinion, a three-judge panel of the appeals court upheld a district court's dismissal of AXA's claims against Great American Lines and subcontractor MVP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 finding that Sanofi and GAL in their transportation agreement waived the application of the Carmack...

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