Ripped-Off Check-Cashing Co. Wins Coverage For Loss

March 12, 2014 – Media Mention
Law 360

Alan Lyons is quoted in the Law360 article "Ripped-Off Check-Cashing Co. Wins Coverage For Loss," which discusses a New York State Appellate Division, First Department ruling in favor of Herrick client Metropolitan Commercial Bank, and the bank's CashZone subsidiary. The First Department ruled that the "in transit" clause of CashZone's insurance policy on transported cash refers to the entire time the armored car contractor possessed the cash. Alan said that the court correctly interpreted that policy "not in a vacuum," but also in light of the contract between the insured and the armored car company, "which expressly contemplated a stoppage at the Mount Vernon facility."