Great Central Insurance Co. v. Bowery Savings Bank

Shulman, Judge.

The main issue presented in this appeal from a grant of summary judgment is whether a letter memorandum constituted sufficient notice within the meaning of an insurance contract requiring filing of proof of loss upon notice. The trial court found that "as a matter of law that this letter memorandum was not a notice contemplated by the clear and unambiguous terms of the insurance policy and therefore a proof of loss was timely filed.” Accordingly, judgment was entered in favor of the loss-payee, Bowery Savings Bank, for the outstanding principal balance due on its loan and…