Henshaw v. Insurance Co. of New York
New York Supreme Court
Action upon a fire policy of reinsurance issued by the defendant to the plaintiff's assignor, the Virginia Fire and Marine Insurance Company of Richmond, Va. On June 30th, 1899, the said Virginia company mailed a letter to the agents of the defendant in New York city applying for a policy of reinsurance un a risk which said Virginia company had on buildings, machinery and other personal property in Virginia for one year from June 27, 1899, and enclosing forms therefor.
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Action upon a fire policy of reinsurance issued by the defendant to the plaintiff's assignor, the Virginia Fire and Marine Insurance Company of Richmond, Va. On June 30th, 1899, the said Virginia company mailed a letter to the agents of the defendant in New York city applying for a policy of reinsurance un a risk which said Virginia company had on buildings, machinery and other personal property in Virginia for one year from June 27, 1899, and enclosing forms therefor. Half an hour afterwards a fire broke out on the insured plant and destroyed and damaged part of it. The Virginia company was…
1Opinion of the Court
Gayntob, J.:
As the insured knew at the time the policy of reinsurance was issued that some of the property had already been destroyed the contract of reinsurance did not cover the destroyed property, but only the part of it in existence. A contract of insurance may be retrospective where by reason of the remoteness of the property it is not known to the insured whether it is not already destroyed, a familiar case being the insurance of ships and cargoes at sea, “ lost or not lost ”; but if the insured know of Its loss, and does not reveal it, the contract is fraudulent and not-' binding (2…
2Cases cited4 opinions
- Insurance Co. v. FolsomSupreme Court of the United States · 1874
- Security Fire Ins. v. Kentucky Marine & Fire Ins.Court of Appeals of Kentucky · 1869
- Bentley v. . the Columbia Insurance CompanyNew York Court of Appeals · 1858
- Hammond v. AllenU.S. Circuit Court for the District of Rhode Island · 1836
3Cited by3 opinions
- Western Fire Insurance v. MossAppellate Court of Illinois · 1973
- State Farm Mutual Automobile Ins. v. CalhounMississippi Supreme Court · 1959
- Mastergeorge v. Utica Mutual InsuranceConnecticut Superior Court · 1938