PARAMOUNT v. GIBRALTAR CAS CO


90 N.Y.2d 507 (1997)

685 N.E.2d 1214

663 N.Y.S.2d 133

Paramount Communications, Inc., Plaintiff, v. Gibraltar Casualty Co. et al., Defendants. Paramount Communications, Inc., Respondent, v. Salvatore Curiale, Superintendent of Insurance of the State of New York, as Administrator of the New York Property/Casualty Insurance Security Fund, Appellant.

Court of Appeals of the State of New York.

Decided June 27, 1997.


Attorney(s) appearing for the Case

Kaplan, Kilsheimer & Fox L. L. P., New York City (Charles J. Moxley, Jr., of counsel), for appellant.

Paul, Weiss, Rifkind, Wharton & Garrison, New York City (Stuart M. Cobert and Leslie Gordon Fagen of counsel), for respondent.

Chief Judge KAYE and Judges TITONE, BELLACOSA, CIPARICK and WESLEY concur; Judge LEVINE taking no part.


SMITH, J.

This case concerns a determination by the Superintendent of Insurance to deny coverage of petitioner's claim under the New York Property/Casualty Insurance Security Fund (Security Fund). Under its broad powers to interpret the Insurance Law and administer the fund established to provide coverage for insureds of insolvent insurance companies, the Superintendent has determined that the insured must relinquish...

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