Bank Saderat Iran New York Agency v. National Union Fire Insurance

—Order, Supreme Court, New York County (Ira Gammerman, J.), entered January 31, 1997, which, in an action to recover on a fidelity bond, dismissed the complaint for failure to state a cause of action, unanimously affirmed, with costs.

Defendant’s documentary evidence established that plaintiff discovered its employee’s dishonesty, and therefore its “loss”, in March 1992; that plaintiff thereafter submitted a proof of loss for a single transaction that defendant accepted as timely, investigated and settled; and that two years later, plaintiff submitted additional proofs of loss for two other…