Kentuckiana Sales, Inc. v. Security Insurance Co. of New Haven

DAVIS, Commissioner.

Kentuckiana Sales, Inc., (hereinafter Kentuckiana, appellant) sought recovery of the appellee insurance company on a blanket position bond insuring Kentuckiana against the dishonest acts of its employees. At the conclusion of all the evidence the trial court directed a verdict denying recovery; from the judgment on the directed verdict Kentuckiana appeals.

The basic question for decision is the proper interpretation of Exclusion, § 2 of the policy of indemnity, which is thus worded:

“Exclusion, Section 2. This bond does not apply to loss, or to that part of any loss, as the…