Peoples Bank & Trust Company of Madison County v. The Aetna Casualty & Surety Company and the Ohio Casualty Insurance Company

OPINION

BOGGS, Circuit Judge.

Several officers and directors of Peoples Bank & Trust Co. of Madison County (“Peoples”) cheated two bank customers in a business transaction. The customers sued the bank and its employees for fraud, and ultimately obtained a large settlement. Peoples then sued to recover that loss from its insurers, Aetna Casualty & Surety Company and Ohio Casualty Insurance Co. (“OCIC”), issuers of Bankers Blanket Bonds held by Peoples. 1 Peoples appeals the district court’s order of summary judgment for defendants. Because we agree with the district court that the officers and…