Luc Leasing Corp. v. Muhl

OPINION OF THE COURT

Herman Cahn, J.

This is a declaratory judgment action. Plaintiff moves for , summary judgment declaring that the lease completion waiver (LCW) option which it wishes to offer to its leasing customers in New York State as an incident to its leasing of motor *754vehicles, is not insurance within the meaning of Insurance Law § 1101.

The essential facts are not in dispute. Plaintiff is in the business of leasing vehicles under a standard leasing agreement. The normal lease is for a stated period of time and obligates the lessee to make monthly payments throughout the lease term.…