Connect with us

Headlines

Jewelry Store Wins $350,000 Suit Against Insurer Over Armed Robbery Case

The policy’s wording was ‘ambiguous.’

mm

Published

on

Lloyd’s of London Inc. must pay $349,507 to a jeweler in connection with losses from a 2013 armed robbery, an Illinois appellate court  has ruled

Lloyd’s underwriters had argued that that they didn’t need to cover the losses of Turmusaya Jewelry Inc. in Burbank, IL, Law360 reports. They said the company failed to have two employees on duty as its policy required.

Turmusaya sued for breach of contract, and the Cook County Circuit Court ruled in favor of the jeweler. the appellate court upheld the ruling.

According to Law360, Turmusaya “argued the policy was ambiguous because the two-person warranty was an express warranty, but the policy stated there were no express warranties.”

Judge Jesse G. Reyes of the appeals panel wrote, “As recognized by our supreme court, we will not ‘adopt an interpretation which rests on “gossamer distinctions” that the average person, for whom the policy is written, cannot be expected to understand.'”

Read more at Law360

Advertisement

Over the years, INSTORE has won 80 international journalism awards for its publication and website. Contact INSTORE's editors at [email protected].

Advertisement

SPONSORED VIDEO

Wilkerson Testimonials

Wilkerson Helped This Jeweler to Navigate His Retirement Sale Despite a Pandemic

Hosting a going-out-of-business sale when the coronavirus pandemic hit wasn’t a part of Bob Smith’s game plan for his retirement. Smith, the owner of E.M. Smith Jewelers in Chillicothe, Ohio, says the governor closed the state mid-way through. But Smith chose Wilkerson, and Wilkerson handled it like a champ, says Smith. And when it was time for the state to reopen, the sale continued like nothing had ever happened. “I’d recommend Wilkerson,” he says. “They do business the way we do business.”

Promoted Headlines

Most Popular