Updates to our Terms of Use

We are updating our Terms of Use. Please carefully review the updated Terms before proceeding to our website.

Friday, July 12, 2024 | Back issues
Courthouse News Service Courthouse News Service

Insurer Says It Doesn’t Cover ATM Heists

NEW ORLEANS (CN) - An insurer for a credit union and an ATM company serving the New Orleans metro area has asked a federal judge to rule it has no obligation to reimburse $1.3 million they lost in two brazen ATM thefts.

In a request for declaratory relief filed Jan. 27, Atlantic Casualty Insurance Company says ASI Federal Credit Union funded the ATM machines that belong to ATM Worldwide LLC.

On Dec. 12, 2015, the lawsuit says, employees of LeoTran Armored Security, the security company hired by ATM Worldwide, stole $1.366 million from two ATM machines they were hired to guard.

Atlantic Casualty says its investigation into the allegations of the claim indicated the theft occurred on premises which its insurance policy does not cover. Additionally, since no property damage or personal injury claims were alleged, Atlantic says its insurance policy does not provide coverage.

According to LeoTran Armored Security's website, the security company is privately owned and exclusively works in the area where the robbery allegedly occurred.

The phone numbers listed on the website have been disconnected and no one from LeoTran Security replied to an emailed request for verification the thefts occurred.

The local insurance company through whom the parties' insurance policy originated did not immediately return a phone call for comment.

The lawsuit was filed by Matthew Ungarino of Metairie, who did not answer the phone for comment.

Follow @SabrinaCanfiel2
Categories / Uncategorized

Subscribe to Closing Arguments

Sign up for new weekly newsletter Closing Arguments to get the latest about ongoing trials, major litigation and hot cases and rulings in courthouses around the U.S. and the world.

Loading...