Lee A. Everhart v. Drake Management, Inc., Union Commerce, Defendant-Third Party v. Fireman's Fund Insurance Co.
Court of Appeals for the Third Circuit
1Opinion of the Court
JOHN R. BROWN, Circuit Judge:
Union Commerce Bank (Bank), appeals trial court’s grant of summary judgment 1 in favor of insurer, Fireman’s Fund Insurance Co. (Insurer), in direct action to recover under terms of blanket bond fidelity insurance contract issued to insured, Commonwealth Corporation (Commonwealth). Bank argues the blanket bond fidelity contract extends coverage to third-party beneficiaries, Florida law strongly favors upholding rights of third-party beneficiaries to insurance contracts, and it is for purposes of the contract a third-party beneficiary. Concluding the fidelity bond…
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