Legal Opinion
Insurance Co. of North America v. Gibralco, Inc.
Court of Appeals for the Ninth Circuit
Decided May 23, 1988No. 86-6078PublishedCited by 4 opinions
1Opinion of the Court
CANBY, Circuit Judge:
This case involves the interpretation of an exclusionary clause limiting recovery for trading losses under an insurance policy purchased by a municipal bond brokerage firm. Insurance Company of North America (“INA”) appeals the district court’s judgment awarding $3,313,667.661 to the Trustee for the broker Gibralco, Inc.2 INA contends that the district court misinterpreted the pertinent provisions of the Bond. We affirm.
BACKGROUND
On November 12, 1980, INA issued a Broker’s Blanket Bond to Gibralco, Inc. Among other forms of coverage, the Bond provided Gibralco with $2…
2Cases cited10 opinions
- Reserve Insurance Co. v. PisciottaCalifornia Supreme Court · 1982
- Continental Casualty Company v. City of Richmond, a Municipal Corporation, and Mead Reinsurance Company, Defendant-In-Intervention-AppellantCourt of Appeals for the Ninth Circuit · 1985
- Preston Guillory, Frank Ritter, and Ty Ritter v. County of OrangeCourt of Appeals for the Ninth Circuit · 1984
- Brobeck, Phleger & Harrison, a Partnership v. The Telex Corporation, a Corporation, and Telex Computer Products, Inc., AcorporationCourt of Appeals for the Ninth Circuit · 1979
- Glen Hanson, a Minor, by and Through His Guardian Ad Litem, Catherine Hanson, and Duane Hanson v. The Prudential Insurance Company of AmericaCourt of Appeals for the Ninth Circuit · 1986
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3Cited by4 opinions
- Glusband v. Fittin Cunningham & Lauzon, Inc.Court of Appeals for the Second Circuit · 1989
- Straz v. Kansas Bankers Surety Co.District Court, E.D. Wisconsin · 1997
- Insurance Company Of North America v. Gibralco, Inc.Court of Appeals for the Ninth Circuit · 1988
- Steven J. Glusband, as Receiver for Michael Starbuck, Inc. And Associates v. Fittin Cunningham & Lauzon, Inc., James J. Armenakis, as Receiver for Michael Starbuck, Inc., Michael Starbuck, Robert Starbuck, John Starbuck, Paul Carmel, Thomas J. Fittin, Jr., Joseph Lauzon, Frank Earl Kunker Iii, Insurance Company of North America and National Grange Mutual Insurance Company, Insurance Company of North America v. James J. Armenakis, as Receiver for Michael Starbuck, Inc.Court of Appeals for the Second Circuit · 1989