Construction Contractors Employer Group, LLC v. Federal Insurance

OPINION

BERNICE BOUIE DONALD, Circuit Judge.

Construction Contractors Employer Group (“Construction Contractors”) discovered that an employee had misappropriated certain funds and that another $1 million was missing. It then purchased an employee-theft insurance policy with Federal Insurance Company (“Federal Insurance”). After Federal Insurance executed the policy, Construction Contractors determined that the same employee had misappropriated the missing $1 million. Federal Insurance denied Construction Contractors’ claim for the $1 million, and Construction Contractors filed suit. The…