So my understanding on this...
If you have property that was reported stolen, you cannot convey good title on that item. I believe the law dictates you go back to the person you bought the card from and get your money back, then they go to who they bought it from and get their money back and down the line. Even if the insurance has paid on a claim the property in still good as it belongs to the insurance company now.
There are several ways to handle it though very dependent on the specific circumstances.
That sucks to have your card stolen though...
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