Tooling, Manufacturing & Technologies Ass'n v. Hartford Fire Insurance

BATCHELDER, C.J., delivered the opinion of the court in which NORRIS, J., joined, and STRANCH, J., joined in Sections I. and II.A. STRANCH, J. (pp. 678-81), delivered a separate opinion concurring in part and dissenting in part.

OPINION

ALICE M. BATCHELDER, Chief Judge.

At its core, an insurance policy is simply a contract between the insurer and the insured, with each entitled to the benefit of the bargain. This statement encapsulates two self-evident but fundamental tenets of contract law — that generally speaking: (1) the benefit of the bargain directly accrues only to the parties to the…