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TOPMILLER v. CAIN

No. 5829.

657 P.2d 638 (1983)

99 N.M. 311

Victor W. TOPMILLER, Jr., et ux., Plaintiffs-Appellees, v. Lowell CAIN, d/b/a Lowell Cain Agency, Defendant and Third-Party Plaintiff-Appellant, v. TRAVELERS INSURANCE COMPANY, Third-Party Defendant-Appellee.

Court of Appeals of New Mexico.

January 11, 1983.

Attorney(s) appearing for the Case

John E. Conway, Montgomery & Andrews, P.A., Albuquerque, for defendant and third-party plaintiff-appellant Cain.

John W. Reynolds, Silver City, for plaintiffs-appellees Topmiller.

Kathryn Levy, Civerolo, Hansen & Wolf, P.A., Albuquerque, for third-party defendant-appellee Travelers Ins. Co.

OPINION

WOOD, Judge.

There are two issues: (1) the liability of an insurance agent for failure to obtain builder's risk insurance; and (2) the measure of damages.

Plaintiffs purchased a lot from Cain for the purpose of building their own home on the property. Plaintiffs arranged for both interim and permanent financing. Prior to obtaining the interim financing, plaintiffs informed Cain that they needed a builder's risk insurance policy. Upon obtaining...

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