MONROE – A lending institution has filed suit against its insurer over allegations it would not cover losses caused by fraudulent transfers.

Marion State Bank filed a complaint on Oct. 13 in the U.S. District Court for the Western District of Louisiana, Monroe Division against Everest National Insurance Co. alleging breach of contract.

According to the complaint, the plaintiff alleges that it suffered monetary losses caused by fraudulent transfers that were committed by unauthorized/illegal computer-based internet hackers and filed a claim with the defendant for coverage. The plaintiff holds Everest National Insurance Co. responsible because the defendant allegedly denied plaintiff's claim and failed and refused to make payment for the amount of loss.

The plaintiff requests a trial by jury and seeks compensation for the principal damages in the sum amount of $233,299.20, attorney fees and penalties, court costs and such other relief as may be proper. He is represented by Russell A. Woodard Jr. of Breithaupt, Dunn, DuBos, Shafto & Wolleson LLC in Monroe.

U.S. District Court for the Western District of Louisiana, Monroe Division Case number 3:16-cv-01436

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U.S. District Court for the Western District of Louisiana Monroe Division
201 Jackson Street
Monroe, LA 71201

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