Michigan National Bank v. St. Paul Fire & Marine Insurance

In this action for declaratory relief, defendant appeals as of right the order granting summary disposition to plaintiff. We reverse and remand.

Plaintiff, Michigan National Bank (mnb) initiated this action to determine the amount it was entitled to recover from defendant, St. Paul Fire & Marine Insurance Company, which had issued mnb a safe-deposit insurance policy. The policy stated that St. Paul would pay “all sums which [mnb] became legally obligated to pay by reason of liability for loss of customers’ property” in safe-deposit boxes. The controversy arose when, in March of 1994, mnb…