Pioneer Industries, Inc. v. Hartford Fire Insurance

BYE, Circuit Judge.

These appeals involve an insurance coverage dispute over commercial crime insurance Hartford Fire Insurance Company issued to Pioneer Industries. After Pioneer’s chief financial officer (CFO) died, Pioneer discovered he had embezzled more than $500,000 from the company during the eleven years prior to his death. Pioneer sued Hartford after the latter refused to pay a claim for the loss. The district court 1 concluded Hartford was entitled to rescind the policy covering the loss because the CFO made material misrepresentations in Pioneer’s insurance applications, and the…