SOUTHERN PINE CREDIT UNION v. COACTION GLOBAL, INC. et al
Case Number:
7:22-cv-00052
Court:
Nature of Suit:
Judge:
Companies
Sectors & Industries:
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September 22, 2025
Credit Union, Insurers End Embezzlement Coverage Dispute
A credit union seeking coverage for $5.5 million in embezzled funds agreed to end a suit accusing its fidelity bond insurers of secretly amending policy language to avoid coverage for "virtually any catastrophic loss," according to a notice filed Monday in Georgia federal court.
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August 03, 2022
Insurer Parent Wants Out Of Credit Union's Coverage Suit
The parent company of an insurer wants out of a suit against its subsidiary, telling a Georgia federal court that it has no part in the dispute between the subsidiary and a credit union over whether coverage is owed for millions of embezzled funds.
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July 06, 2022
Insurer Slams Credit Union's Embezzlement Coverage Claim
Southwest Marine & General Insurance Co. hit back at Southern Pine Credit Union's suit alleging that the fidelity bond insurer improperly denied coverage for millions in embezzled funds, telling a Georgia federal court the credit union made misrepresentations in its policy applications about its financial health and internal fraud controls.
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June 08, 2022
Fidelity Bonds Must Cover Embezzlement, Credit Union Says
A credit union seeking coverage for millions in embezzled funds sued its fidelity bond insurers in Georgia federal court, alleging that the insurers secretly amended policy language to escape covering "virtually any catastrophic loss" without running the changes by their policyholder or obtaining federal approval.