Belco Petroleum Corp. v. AIG Oil Rig, Inc.
Appellate Division of the Supreme Court of the State of New York
1Opinion of the Court
OPINION OF THE COURT
Wallach, J.
The appeal raises several issues, the most important being whether punitive damages can be awarded against an insurance company for conduct amounting to an unfair claim settlement practice as defined by Insurance Law § 2601. That issue—whether the common-law right to punitive damages is "preempted” by Insurance Law § 2601—is a pure question of law, and we address it first.
PREEMPTION
Insurance Law § 2601 prohibits an insurance company from engaging in "unfair claim settlement practices”. The term is defined to include certain acts "committed without just cause and…
2Cases cited36 opinions
- Walker v. SheldonNew York Court of Appeals · 1961
- Burns Jackson Miller Summit & Spitzer v. LindnerNew York Court of Appeals · 1983
- Norris v. CooperNew York Court of Appeals · 1984
- Garrity v. Lyle Stuart, Inc.New York Court of Appeals · 1976
- Rudman v. Cowles Communications, Inc.New York Court of Appeals · 1972
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3Cited by27 opinions
- Rocanova v. Equitable Life Assurance Society of United StatesNew York Court of Appeals · 1994
- John W. Riordan Jane Fox v. Nationwide Mutual Fire Insurance CompanyCourt of Appeals for the Second Circuit · 1992
- In the Matter of the New York Stock Exchange Arbitration Between, Fahnestock & Co., Inc., Cross-Appellee v. Joseph J. Waltman, Cross-AppellantCourt of Appeals for the Second Circuit · 1991
- Barry J. Jacobson, Plaintiff-Appellant-Cross-Appellee v. Fireman's Fund Insurance Company, Defendant-Appellee-Cross-AppellantCourt of Appeals for the Second Circuit · 1997
- Dale v. Guaranty National Insurance Co.Supreme Court of Colorado · 1997
22 more not listed; retrieve them via the Exa API.