Putnam v. Otsego Mutual Fire Insurance

Staley, Jr., J.

On July 1, 1970, plaintiffs’ dairy barn was destroyed by fire, at which time the barn was covered by fire insurance in the total sum of $75,000. Defendant is one of four insurance companies that provided fire insurance coverage and the amount of its coverage was $15,000. Subsequent to the fire, three of the companies including defendant, retained James Van Deusen to represent them in the investigation and adjust*557ment of the loss. After negotiating with plaintiffs, a settlement was reached to pay them $67,000 as a compromise settler ment, and the claim adjuster wrote them a…