Rydman v. Martinolich Shipbuilding Corp.

This is an appeal from a summary judgment dismissing appellant Rydman’s cause of action against a builder’s risk insurer. The primary issue presented is whether the insurer was liable under its policy for the loss of Rydman’s vessel.

On September 15, 1970, Martinolich Shipbuilding Corporation (Martinolich) contracted to build a fishing vessel for Richard Rydman, a commercial fisherman, for $180,000. The contract provided that Martinolich would “at all times during the construction of this vessel and up to the time of delivery thereof, maintain standard marine builder’s risk insurance in the…