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FIRST INS. FUNDING CORP. v. FEDERAL INS. CO.

No. 01-2855.

284 F.3d 799 (2002)

FIRST INSURANCE FUNDING CORPORATION, Plaintiff-Appellant, v. FEDERAL INSURANCE COMPANY, Defendant-Appellee.

United States Court of Appeals, Seventh Circuit.

Decided March 28, 2002.

Attorney(s) appearing for the Case

Christopher C. Dickinson (argued), Jenner & Block, Chicago, IL for plaintiff-appellant.

Edward M. Kay (argued), Clausen Miller, Chicago, IL, for defendant-appellee.

Before BAUER, RIPPLE and MANION, Circuit Judges.

RIPPLE, Circuit Judge.

Defrauded of over $4.3 million, First Insurance Funding Corporation ("First Insurance") sought indemnification for these losses under the terms of a financial institution bond that its parent corporation had purchased from Federal Insurance Co. ("Federal"). When Federal denied the claim for coverage, First Insurance filed this action seeking a declaratory judgment of Federal's obligation to indemnify for these losses. In addition, First Insurance...

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