Plaintiff filed suit against various underwriters (Lloyd's), after its claim for losses arising from employee theft was denied for, inter alia, failure to file a timely notice of claim as well as timely proof of loss, and failure to cooperate. The IAS court dismissed the lawsuit because it was not filed within the time period recited in the insurance policy for commencement (i.e., two years from the date of discovery of the loss). Plaintiff argued that it was lulled into...
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