Stephen-Leedom Carpet Co. v. Arkwright-Boston Manufacturers Mutual Insurance

OPINION OF THE COURT

Bloom, J.

Stephen-Leedom Carpet Co., Inc. (plaintiff), brought this action to recover a sum in excess of $4 million on a *575comprehensive dishonesty, disappearance and destruction policy issued to it by Insurance Company of North America (INA). The policy covered, among other things, loss of property occasioned by fraudulent or dishonest acts committed by any of plaintiff’s employees. Following the initial stages of discovery, INA ascertained that plaintiff had information with respect to some or all of the employees or former employees, who had committed, or participated in…