Officials in Shelby County in Tennessee said their insurance company is not renewing the county’s policy protecting against financial crimes, a move that stems from an alleged embezzlement scheme at Chancery Court that led to $1 million in losses.
Travelers Insurance told the county in an Aug. 16 letter that current coverage will cease Nov. 1. The letter follows an earlier claim by the county asking Travelers to cover the $1 million Chancery Court loss, The Commercial Appeal reported.
Chancery Court clerk Dewun Settle resigned earlier this week. An investigation by The Commercial Appeal found that Settle allowed an employee suspected of stealing $1,063,000 to stay on the payroll for two months after a report in February revealed possible wrongdoing.
Settle has denied allegations that he repeatedly ignored auditors’ recommendations to shore up financial controls.
Topics Carriers
Was this article valuable?
Here are more articles you may enjoy.
’60 Minutes’ Homeowners Ask Court to Force DFS to Divulge Heritage Probe Info 
10 Highest Class-Action Settlements in 2025 Eclipsed $70B Total: Duane Morris 
High-Net-Worth Risk Appetite Drops as Some Regions Show Stabilization 
Relief But Questions on Agents’ Duties to Insureds After Florida Court Ruling 
