Schwabach & Company v. Gulf Shipside Storage Corp.

J. SKELLY WRIGHT, District Judge.

This case involves a phantom certificate of insurance issued, according to its face, by authority of certain unnamed “Underwriters, at Lloyd’s, London and/or Companies.” It demonstrates that anyone relying on such or similar certificates may find himself without insurance because, contrary to public belief, Lloyd’s is not an insurer 1 *and certificates issued using its name are but hunting licenses to find who the unnamed insurers are, if indeed they do exist. Here Lloyd’s denies their existence.

Schwabach and Company was the owner of cotton stored in the…