Kean v. National Surety Co.

The action was brought to recover $100,000 oh defendant’s banker’s blanket bond issued to the plaintiffs. The plaintiffs claim that they suffered a loss within the meaning of the bond by reason of a highway robbery which was brought about by the collusion of one of their employees. At the time of the robbery the plaintiffs were making a delivery of Liberty coupon bonds valued at over $250,000; in fact the market value was $411,499.95.

The bond provides:

“ In consideration of the premium of $4,895, paid by Kean, Taylor & Company hereinafter referred to as the Insured, to the National Surety…