Summary
In Tishman, the facts were found to justify the exceptional holding there, permitting the exercise of subrogation rights as against a party named as an additional insured.
Summary of this case from New York Bd. v. Trans UrbanOpinion
Argued June 12, 1974
Decided July 11, 1974
Appeal from the Appellate Division of the Supreme Court in the First Judicial Department, CHARLES S. WHITMAN, JR., J.
Douglas A. Boeckmann for appellant.
Milton B. Pfeffer for respondent.
MEMORANDUM. In agreeing with the majority at the Appellate Division, we would merely add that defendant's insurable interest under the fire insurance policies here in question was limited to its property interest in the building under construction — i.e., the tools, labor and material furnished or owned by the defendant. Since no part of the damages alleged by the plaintiff in this litigation was for destruction of any property owned or furnished by the defendant, it cannot be said that the defendant was a coinsured under the terms of the policy with respect to the loss caused by the fire.
Chief Judge BREITEL and Judges JASEN, GABRIELLI, JONES, WACHTLER and RABIN concur in memorandum; Judge STEVENS taking no part.
Judgment affirmed, with costs.