Allcity Insurance v. Bankers Trust Co.

This is an action in equity, tried before the court without a jury.

The plaintiff (hereinafter referred to as Allcity), a domestic insurance corporation, doing a business in automobile insurance policies, issued an insurance policy on a 1969 Oldsmobile automobile owned by the defendant Donna Stone. That policy covered the period commencing with an effective date of November 1, 1969 and terminating November 1, 1970. The coverage included "collision” insurance, the proceeds of which were payable to either defendant Stone or defendant Bankers Trust (formerly known as First Company of Albany) as…