Texas Justices Take Up Gold Coin Theft Coverage Battle

Law360 (April 16, 2021, 3:09 PM EDT) -- The Texas Supreme Court on Friday agreed to consider if a gold retailer's losses were caused when it handed over gold coin shipments based on fraudulent checks, triggering an insurance policy exclusion, and whether alleged shipping errors were an independent, covered reason for the losses.

The Lone Star State's high court accepted two legal questions from the U.S. Fifth Circuit, which is deciding whether gold retailer Dillon Gage can force underwriters at Lloyd's of London to cover nearly $1.2 million lost when a scammer used forged checks to steal two gold coin shipments.

The panel of Fifth Circuit Judges Rhesa Hawkins...

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