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NAT'L NEWARK & ESSEX BANK v. AMERICAN INSURANCE CO.

76 N.J. 64 (1978)

385 A.2d 1216

NATIONAL NEWARK AND ESSEX BANK, PLAINTIFF-APPELLANT-CROSS-RESPONDENT, v. THE AMERICAN INSURANCE COMPANY, DEFENDANT-RESPONDENT-CROSS-APPELLANT.

The Supreme Court of New Jersey.

Decided April 27, 1978.

Attorney(s) appearing for the Case

Mr. Eugene M. Haring argued the cause for appellant-cross-respondent (Messrs. McCarter and English, attorneys; Mr. Haring, of counsel and on the brief; Mr. Richard M. Eittreim, on the brief).

Mr. Charles H. Hoens, Jr. argued the cause for respondent-cross-appellant (Messrs. Lum, Biunno and Tompkins, attorneys; Mr. Hoens, of counsel and on the brief; Mr. Dennis J. Drasco, on the brief).

The opinion of the court was delivered by PASHMAN, J.

This appeal requires the Court to determine whether the fidelity provisions of a Banker's Blanket Bond issued to the plaintiff Bank provide coverage for the losses caused by the conduct of one of its employees under the rather unusual circumstances of this case. If coverage is found to exist, we must next determine whether the filing of the claim herein was timely under...

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