Continental Insurance v. Commercial Union Insurance
Appellate Division of the Supreme Court of the State of New York
1Per curiam
This is a submission of a controversy pursuant to CPLR 3222.
Edison Gifts Imports, Inc. (Edison) was a tenant occupying premises at 1487 Broadway, New York City. A fire occurred at said premises on October 23, 1963 causing damage to personal property belonging to Edison in the agreed amount of $25,000.
On February 5, 1963 Edison had procured a policy in the amount of $100,000 from the plaintiff, Continental Insurance Company (Continental). This policy was denominated as a special multi-peril policy (SMP policy) and was authorized by subdivision 7 of section 168 of the Insurance Law.
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