COLUMBIA EQUITIES, LTD. v. UNDERWRITERS AT LLOYD'S, LONDON


186 A.D.2d 486 (1992)

Columbia Equities, Ltd., Appellant, v. Underwriters at Lloyd's, London, et al., Respondents, et al., Counterclaim Defendant

Appellate Division of the Supreme Court of the State of New York, First Department.

October 27, 1992


The IAS Court properly determined that the fidelity coverage section of the Mortgage Broker's Blanket Bond Indemnity Insurance Policy issued by defendant Lloyds specifically excluded coverage for losses resulting from the allegedly unauthorized trading in United States Government Securities by plaintiff's former acting president, defendant Lublin, on the plaintiff's behalf. Any losses claimed by the plaintiff as a result of defendant Lublin's trading activities clearly fell...

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