Legal Opinion

New York Bowery Fire Insurance v. New York Fire Insurance

New York Supreme Court

Decided July 15, 1837PublishedCited by 19 opinions

Error from the New York common pleas. This was an action against the Bowery Insurance Company, on a policy of re-insurance.

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Error from the New York common pleas. This was an action against the Bowery Insurance Company, on a policy of re-insurance. On the third day of February, 1834, the New York Fire Insurance Company of the city of New York, entered into a policy to insure for one year, one Joseph Morti-. mer, against loss or damage bji fire upon bis stock of dry goods and ready made clothing, in a store occupied by him, to the amount of $3000, and upon his household furniture to the amount of $500. On the eleventh day of February, 1834, the assurers applied to the Bowery company for re-insurance on the dry goods…

1Opinion of the Court

By the Court,

Bronson, J.

Re-insurance is a valid contract at the common law. It is forbidden in England, except where the insurer shall be insolvent, become bankrupt, or die, by the statute (19 Geo. 2 ch. 37, § 4). But it is in use in most of the other maritime state of Europe (1 Marsh, on Ins. 143, 1 Beames Lex Merca. 467), and has been sanctioned in this state and in Massachusetts (Hastie v. De Peyster, 3 Caines, 190. Merry v. Prince, 2 Mass. R. 176). It is true that these cases arose on marine policies, but there is no difference in principle, so far as this question is concerned, between…

2Cases cited2 opinions

  1. Hastie v. De PeysterNew York Supreme Court · 1805
  2. Merry v. PrinceMassachusetts Supreme Judicial Court · 1806

3Cited by19 opinions

  1. Penn Mut. Life Ins. v. Mechanics' Savings Bank & Trust Co.Court of Appeals for the Sixth Circuit · 1896
  2. Berry v. American Central Insurance Co. of St. LouisNew York Court of Appeals · 1892
  3. Eastern Railroad v. Relief Firf InsuranceMassachusetts Supreme Judicial Court · 1868
  4. Sebring v. Fidelity-Phenix Fire InsuranceNew York Court of Appeals · 1931
  5. Johannes v. Phenix Insurance Co. of BrooklynWisconsin Supreme Court · 1886

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