Bullard-Lindsay Contracting Co. v. Universal Bonding Insurance

—Order, Supreme Court, New York County (Martin Schoenfeld, J.), entered on or about January 7, 2002, which, inter alia, granted defendant’s cross motion for summary judgment dismissing the complaint, unanimously affirmed, without costs.

Plaintiff was not entitled to a refund of the portion of its bond premiums that corresponded to the contract value of the work remaining under its prematurely terminated construction contract. The risk attached at the inception of the coverage and the bond documents did not provide for a refund in the event of such termination. Under the circumstances, the…