Jewelry Store Wins $350000 Suit Against Insurer Over Armed Robbery Case - INSTORE MAG
Lloyd’s of London Inc. must pay $349,507 to a jeweler in connection with losses from a 2013 armed robbery, an Illinois appellate court has ruled
Lloyd’s underwriters had argued that that they didn’t need to cover the losses of Turmusaya Jewelry Inc. in Burbank, IL, Law360 reports. They said the company failed to have two employees on duty as its policy required.
Turmusaya sued for breach of contract, and the Cook County Circuit Court ruled in favor of the jeweler. the appellate court upheld the ruling.
According to Law360, Turmusaya “argued the policy was ambiguous because the two-person warranty was an express warranty, but the policy stated there were no express warranties.”
Judge Jesse G. Reyes of the appeals panel wrote, “As recognized by our supreme court, we will not ‘adopt an interpretation which rests on “gossamer distinctions” that the average person, for whom the policy is written, cannot be expected to understand.'”
Read more at Law360
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