SMI Realty Management Corp. v. Underwriters at Lloyd's, London

OPINION

LAURA CARTER HIGLEY, Justice.

In this insurance-coverage dispute, SMI Realty Management Corporation (“SMI”) appeals the trial court’s summary judgment in favor of Underwriters at Lloyd’s, London (“Underwriters”). We determine whether the term “Leakage,” found in an exclusionary provision of an “all-risks” policy, is ambiguous or whether, as a matter of law, it serves- to deny SMI coverage in this case.

We reverse and remand.

Factual and Procedural Background

SMI contracted with Underwriters for first-party property insurance, covering the period of January 9,1999 to January 9, 2000. The…