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CHASE MANHATTAN BANK, N.A. v. EACH INDIVIDUAL UNDERWRITER BOUND TO LLOYD'S POLICY NO. 790/004A89005

287 A.D.2d 303 (2001)

731 N.Y.S.2d 150

CHASE MANHATTAN BANK, N. A., Respondent, v. EACH INDIVIDUAL UNDERWRITER BOUND TO LLOYD'S POLICY NO. 790/ 004A89005, Appellants.

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

Decided October 11, 2001.

In this action by Chase Manhattan Bank to recover as a loss payee under an insurance policy issued by defendants to a courier company retained to transport checks and cash from certain of plaintiff's branch banks to its processing and distribution center, the trial court properly found that there was no agency relationship between Chase and the courier company's insurance broker and/or the broker for Lloyd's of London who had been selected by the courier company's broker...

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