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Insurance company claims that theft was not covered under the agreed policy

By Hoang Tran | Feb 1, 2016

NEW ORLEANS – An insurance company has filed a declaratory judgment over claims a policy it issued to a credit union doesn't cover damages from a theft.

Atlantic Casualty Insurance Co. (ACIC) filed suit Jan. 27 in the U.S. District Court for the Eastern District of Louisiana against ASI Federal Credit Union and ATM Worldwide LLC (ATMWW) claiming that defendants' insurance claim is not valid.

ACIC allegedly issued ATM Worldwide an insurance policy that was in affect during a claim that was submitted by the defendants regarding theft that allegedly occurred on or about Dec. 12. The complaint states that ATM Worldwide contracted ASI Federal Credit Union to provide ASI with automated teller machines. ATMWW allegedly hired LeoTran Armored Security LLC to service said ATMs. On or about Dec. 12, LeoTran employees allegedly stole around $1,366,000 from the ATMs. ACIC alleges to have received a claim from ASI for that lost/stolen amount.

ACIC asserts that, under the insurance policy agreement, it will pay the sum in situations of bodily injury or property damage and that the claim made by the defendants does not fall under those two criteria. It also claims that the coverage only covered two locations, 914 Industry Road, and 2201 Aberdeen St., both in Kenner. ACIC asserts that the loss occurred away from the insured locations.

Therefore, ACIC is asking the court to declare that no coverage exists under the insurance policy between it and defendants and there is no indemnity or defense owed. It is represented by Matthew J. Ungarino from Ungarino & Eckert LLC in Metairie.

U.S. District Court for the Eastern District of Louisiana Case number 2:16-cv-00691-SSV-JCW

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Ungarino & Eckert LLC

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