Sportsinsurance.com: Second Circuit applies Suit Limitation Period to Dismiss Action on Commercial Crime Policy
By Chris McKibbin and Devra Charney On November 4, 2022, the Second Circuit Court of Appeals released its decision in Sportsinsurance.com, Inc. v. The Hanover Insurance Company, Inc. The Court applied a commercial crime policy’s suit limitation period in finding that an insured’s coverage action was not timely. Critically, the Court also rejected the insured’s waiver and estoppel arguments which were premised on alleged communications by the insurer. The Facts In January 2016, Sportsinsurance.com, Inc. (“Sportsinsurance”) discovered that its Chief Financial Officer, Baroudi, was embezzling from the company. Sportsinsurance believed that Baroudi’s embezzlement constituted a loss under the commercial