Royal Property Group, LLC v. Prime Insurance Syndicate, Inc

In this insurance case, defendant insurer, Prime Insurance Syndicate, Inc. (Prime), appeals as of right the trial court’s entry of judgment in favor of plaintiff insured, Royal Property Group, LLC (Royal), for $228,729.84. The significant issues in this case are (1) whether the insurance policy is ambiguous in regard to the method of valuation used to determine coinsurance liability and (2) whether a coinsurance clause that determines an insured’s coinsurance liability on the basis of the replacement cost value (RCV) of the property is against public policy where an insurer’s liability is…