Colson Services Corp. v. Insurance Co. of North America

MEMORANDUM OPINION AND ORDER

CEDARBAUM, District Judge.

This diversity action arises from a dispute over a commercial crime insurance policy (“Policy”) issued by defendant Insurance Company of North America (“INA”), a Pennsylvania corporation, on behalf of plaintiff Colson Services Corporation (“Colson”), a New York corporation. Colson seeks to recover $4,327,771.87 under the Policy for a loss of money and securities which it alleges was caused by theft inside a banking premises. INA contends that the loss suffered by Colson is not covered by the Policy, and moves for summary judgment. Colson…