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FACET INDS. v. WRIGHT

95 A.D.2d 262 (1983)

Facet Industries, Inc., Respondent, v. Philip G. Wright, Individually and on Behalf of Certain Underwriters at Lloyd's of London, Subscribing to Policy No. 795/PSA28285A, Appellant

Appellate Division of the Supreme Court of the State of New York, First Department.

August 11, 1983

Attorney(s) appearing for the Case

Steven A. Peisak of counsel (Stanley H. Solomon with him on the brief; Standard, Weisberg, Heckerling & Rosow, P. C., attorneys), for appellant.

Ted Trief of counsel (Joel S. Sankel, attorney), for the respondent.

ROSS and ASCH, JJ., concur with KASSAL, J.; MURPHY, P. J., and ALEXANDER, J., dissent in an opinion by ALEXANDER, J.

KASSAL, J.

This action was brought to recover upon a "Jewelers' Block Policy", with plaintiff as the named insured. The issue raised on the appeal is the construction of an exclusion from coverage in the policy and its applicability to the facts herein, which the parties agreed to by stipulation.

Defendant, a representative of Lloyd's Underwriters issued a jewelers' block policy, providing coverage insofar as applicable here, of $100,000, with...

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