Bowes & Co. v. American Druggists' Insurance

— Judgment, Supreme Court, New York County (George Bundy Smith, J.), entered August 13,1982, which denied petitioner’s application to stay arbitration, is unanimously modified, on the law, to grant the application only to the extent of staying arbitration as to the issue of rescission, and otherwise affirmed, without costs. Both petitioner and respondent are insurance carriers. On June 18, 1974 respondent authorized petitioner, effective April 1, 1974, to underwrite marine insurance and reinsurance risks on respondent’s behalf. Petitioner’s authority was expressed in writing in an information…