First Security Savings v. Aetna Casualty & Surety Co.

The plaintiff-appellant, First Security Savings, a state-chartered industrial loan and investment company, challenges the district court’s sustainment of defendantappellee Aetna Casualty and Surety Company’s motion for summary judgment in this suit on a discovery bankers blanket bond, pursuant to the terms of which Aetna undertook to indemnify First Security for certain losses. We affirm.

So far as is relevant to this inquiry, the bond covered any loss which resulted directly from the dishonest or fraudulent acts of the insured’s employee and which was discovered during the period of the…