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FISERV SOLUTIONS, INC. v. XL SPECIALTY INSURANCE COMPANY

Nos. 6005, 601096/09, 6006, 601217/09.

94 A.D.3d 456 (2012)

943 N.Y.S.2d 1

2012 NY Slip Op 2576

FISERV SOLUTIONS, INC., et al., Appellants-Respondents, v. XL SPECIALTY INSURANCE COMPANY, Respondent-Appellant. (And Another Action.)

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

Decided April 5, 2012.

The motion court correctly determined that XL's policy insures the range of value generated by the Fiserv program called HomeValueBot (HVB), and not, as asserted by plaintiffs, any amount selected by the lender within the HVB range when that amount is later determined to be greater than the actual market value upon a retrospective appraisal. The purpose and intention of the policy is ascertained upon examination of the service provided...

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