Herbert Rosenthal Jewelry Corp. v. St. Paul Fire & Marine Insurance

McNally, J. (dissenting).

In an action for a declaratory judgment defendant-appellant St. Paul Fire and Marine Insurance Company appeals from an order granting summary judgment to plaintiff and the judgment thereon.

Defendant on February 18,1956 issued to plaintiff a Jewelers’ Block Policy insuring against loss by theft of articles of jewelry. Plaintiff sustained a loss on November 21, 1956. Proof of loss was made January 2, 1957 and on January 3, 1957 defendant paid $48,145.25.

The policy provides: 1 ‘ 16. It is understood and agreed that if in case of loss the Insured shall acquire any right…