American Savings Bank & Trust Co. v. National Surety Co.

Citations

• 91 Wash. 307
• 157 P. 877
• 1916 Wash. LEXIS 1062

Syllabus

<p>Insurance — Fidelity Insurance — Bond—Construction—Actions —Failure op Pboop. An indemnity bond insuring the fidelity of certain employees named in a schedule is in legal effect a separate bond as to each, and in no sense a blanket bond, where the limit of liability is separately stated at varying sums as to each employee and it is provided that the previously known dishonesty of an employee is a ground of defense, terminates the liability as to subsequent acts, fully earns the premiums paid, and requires the insured to render assistance in bringing the employee to justice; hence an action on the bond for loss by theft must fail where plaintiff is able to prove only that the theft was committed by one or more of three employees, and is unable to show which one was guilty.</p>