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GENERAL ELEC. CO. v. ZURICH-AMERICAN INS. CO.

Civ. No. 95-0018-B.

952 F.Supp. 18 (1996)

GENERAL ELECTRIC COMPANY, Plaintiff, v. ZURICH-AMERICAN INSURANCE COMPANY, Defendant.

United States District Court, D. Maine.

September 27, 1996.

Attorney(s) appearing for the Case

Bernard J. Kubetz, Eaton, Peabody, Bradford & Veague, Bangor, ME, for Plaintiff.

Steven L. Smith, Cozen & O'Connor, Philadelphia, PA, Phillip D. Buckley, Rudman & Winchell, Bangor, ME, for Defendant.

ORDER AND MEMORANDUM OF DECISION

BRODY, District Judge.

This is a case of first impression in the First Circuit. The question presented is whether a named insured under a builder's risk insurance policy has an insurable interest in its potential liability for damages as well as in its tangible property interests. The Court concludes that it does.

Plaintiff, General Electric Company (GE), filed a declaratory judgment action with the Court on January...

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