JPMorgan to cash in insurance policy after acqusition of Frank, FT reports

JPMorgan Chase is working to recover millions of dollars from an insurance policy that protected the company against fraud after its $175M acquisition of Frank, Joshua Franklin and Arash Massoudi of The Financial Times reports, citing people familiar with the matter. The insurance payout would provide the company with some relief following what CEO Jamie Dimon described as a “huge mistake.”