Insurance carriers are not responsible if a bank improperly cashes a check made out to two insureds and gives the proceeds to only one of them, a federal appeals court decided this week.
The U.S. 11th Circuit Court of Appeals on Wednesday reversed a lower federal court’s ruling and held that Markel American Insurance Co. had upheld its obligation when it issued joint checks for $573,404 made payable to two insured truck-leasing firms in Florida.
“Markel American agree