Reliance Insurance Company v. Irpc, Inc.

OPINION BY

BOWES, J.:

¶ 1 IRPC, Inc. (“IRPC”) appeals from the order granting summary judgment in favor of Reliance Insurance Company (“Reliance”), Travelers Property Casualty Corporation, and Travelers Casualty and Surety Company in this declaratory judgment action. After careful review, we affirm.

¶ 2 The record reveals the following. In November 1996, IRPC, a Philadelphia-based real estate company that acts as a paymaster for various partnerships and corporations involved in the development and leasing of low-income housing, purchased a fidelity bond from Reliance. The bond was effective from…