Bridgestone/Firestone successfully recovered in confidential arbitration $10 million in policy limits for claim arising under blanket crime policy
Clients Bridgestone/Firestone North American Tire, LLC
Jones Day handled an insurance coverage recovery case for Bridgestone/Firestone North American Tire, LLC, based upon losses that Bridgestone/Firestone sustained when the processor of Bridgestone/Firestone's freight bills went bankrupt. Wrongdoing by management of the processor was suspected, but no crime was ever charged; the insurer denied coverage under a high-limits blanket crime policy. Upon the close of trial before a stipulated panel of three retired federal district court judges, the insurer agreed to pay policy limits less a small sum for costs.
Bridgestone/Firestone North American Tire, LLC v. Certain Provider Blanket Crime Policy