Insurer Tells Texas Justices Gold Coin Theft Not Covered

Law360 (June 8, 2021, 7:50 PM EDT) -- The Underwriters at Lloyd's of London has urged the Texas Supreme Court to rule that it does not need to cover a gold retailer's nearly $1.2 million losses after a cybercriminal used forged checks to steal two gold coin shipments, saying the policy's invalid payment exclusion applies.

On Monday, Underwriters asked the state high court to find that UPS' alleged shipping error by not checking the criminal's identity when handing them the shipments was not a separate event from the criminal's fraudulent payment of the packages.

"The fraudulent payment was the triggering event of the loss, and other events were related...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!