Cohen v. New York Property Insurance Underwriting Ass'n

Lupiano, J. (dissenting).

Plaintiffs’ original complaint set forth three causes of action—the first, to recover under an insurance policy issued by defendant as insurer to plaintiffs insuring the latter against all risk of loss to certain premises owned by plaintiffs caused by fire, which premises were damaged by fire; the second cause, to recover punitive damages in addition to the actual damages sustained as a result of the fire loss because of defendant’s bad faith in refusing to settle plaintiffs’ claim as a part of a plan to exert unfair economic advantage upon plaintiffs to settle for…