Verneco, Inc. v. Fidelity & Casualty Co. of New York

SUMMERS, Justice.

■ Plaintiffs Verneco, Inc., and Roy O. Martin Retirement Trust instituted this suit against Fidelity and Casualty Company of New York to recover under a blanket crime policy insuring plaintiffs and the affiliated companies of Martin Industries against fraudulent or dishonest acts of its employees. The trial court gave judgment in favor of plaintiffs as prayed for in the sum of $10,000, the full amount of the policy coverage. On appeal to the Third Circuit, the judgment was reversed. 207 So. 2d 828. We granted writs to review the judgment of the Court of Appeal.

Milton Lee…