Bankers & Shippers Insurance v. Electro Enterprises Inc.

The petitioner, Bankers and Shippers Insurance Company of New York (hereinafter "Bankers”), brought an action for a declaratory judgment that its insurance policy did not provide either coverage for or an obligation to defend its insureds against claims resulting from an airplane crash. After the declaratory judgment action was finally terminated, the defendants in that action brought the instant suit for attorneys’ fees and expenses. The issues on this appeal are whether the insurer is obligated to reimburse the defendants in the declaratory judgment proceedings for reasonable attorneys’…