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Nationwide Mutual Insurance Co. v. Choi

Court: SD Tx  07/25/2023  Court Resolves Cross-Motions for Summary Judgment Regarding Liability Coverage Pertaining to Bitcoin Theft Case

A court of the Southern District of Texas resolved cross-motions for summary judgment regarding the duties to defend and indemnify under a personal-liability umbrella policy in an underlying suit alleging the theft of $80,000,000 in Bitcoin, holding that the underlying suit only alleged intentional conduct for fraud, civil theft, conversion, unjust enrichment, and civil conspiracy, which does not meet the policy's definition of negligent conduct.

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