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TACTICAL STOP-LOSS, v. TRAVELERS CAS. AND SUR. CO.

No. 10-2787.

657 F.3d 757 (2011)

TACTICAL STOP-LOSS, LLC, et al., Plaintiffs-Appellants, v. TRAVELERS CASUALTY AND SURETY COMPANY OF AMERICA, Defendant-Appellee.

United States Court of Appeals, Eighth Circuit.

Filed: September 30, 2011.

Attorney(s) appearing for the Case

Leonard B. Rose , Amy Loth Allen , Kansas City, MO, for appellant.

Bernard L. Balkin , Keith Witten , Overland Park, KS, for appellee.

Before LOKEN and MURPHY, Circuit Judges, and JARVEY, District Judge.

LOKEN, Circuit Judge.

Tactical Stop-Loss and an affiliate (the "Tactical Group") administer trust accounts for insurance companies that provide stop-loss coverage to employee-benefit-plan sponsors. Tactical Group purchased a Crime Policy from Travelers Casualty and Surety Company insuring against loss from theft or forgery by an employee "acting alone or in collusion with other persons," but excluding loss "resulting directly or indirectly from any fraudulent, dishonest...

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