Foamcraft, Inc. v. First State Insurance

This is an appeal by plaintiff Foamcraft Corporation from an order of the court granting defendant First State Insurance Company’s motion to dismiss and denying plaintiff’s motion to amend its complaint.

In October 1986 plaintiff procured an all-risks property insurance policy from defendant. The initial policy was issued from October 1, 1987, through October 1, 1988, to cover plaintiff’s property located on Van Burén Street in Chicago, Illinois. The policy contained a clause which barred any suit brought under the policy if such suit was brought more than 12 months after discovery of an…