PUEBLO SANTA FE TOWNHOMES OWNERS'ASS'N v. Transcontinental Insurance Co.

OPINION

JOHNSEN, Judge.

¶ 1 This is an appeal of a judgment entered after a subcontractor and a homeowners association entered into a Morris agreement 1 assigning the subcontractor’s rights under an insurance policy issued by Transcontinental Insurance Company (“CNA”). The superior court found that because CNA delayed for 18 months before informing the subcontractor that it reserved its right to deny indemnity coverage, thereby prejudicing the subcontractor, CNA was estopped from asserting coverage defenses against the homeowners association. The court also approved a stipulated judgment of…