S & S Tobacco & Candy Co. v. Greater New York Mutual Insurance

The principal issue in this appeal is whether the terms of a fire insurance policy providing coverage for the cost of replacement of a building destroyed by a fire unambiguously limit that coverage to a replacement on the premises on which the fire occurred. The plaintiffs, S and S Tobacco and Candy Company, Inc., and Stanley Seligson,1 filed an amended complaint charging the defendant, Greater New York Mutual Insurance Company, with a breach of contract for its refusal to pay the totality of the plaintiffs’ unpaid claim under the “replacement cost (without deduction for depreciation)”…