Philips Electronics N v. v. New Hampshire Insurance

Plaintiffs Philips Electronics N.Y and Philips Electronics North America Corporation, doing business as Advance Transformer Company (collectively Philips), brought suit against the defendant insurers from whom it had purchased fidelity insurance policies (collectively Fidelity Insurers). Philips alleged that the Fidelity Insurers breached the insurance contracts for failure to indemnify Philips for its claimed losses and for damages allegedly caused by the Fidelity Insurers’ misconduct and fraud during its claims-handling process. The circuit court dismissed the counts alleging…