Arvid Oksa v. American Employer's Insurance Company

On April 25, 1951 the plaintiff purchased from the defendant a one year motor vehicle liability policy which enabled him to comply with the New York Motor Vehicle Safety Responsibility Act then in force, Vehicle and Traffic Law, McK. Consol.Laws, c. 71, § 94 et seq. The limits of liability, as expressly stated in the policy, were $5,000 for each person killed or injured, with a maximum of $10,000 for all persons involved in a single accident. By an amendment to the statute effective July 1, 1951, Vehicle and Traffic Law, § 94-Z, the minimum policy limits required for proof of financial…