New York Appellate Digest
  • Home
  • About
  • Just Released
  • Update Service
  • Streamlined Research
  • CLE Courses
  • Contact
  • Menu Menu
You are here: Home1 / Fiduciary Duty2 / ALL RISK ARTWORK INSURANCE DID NOT COVER DEFECTIVE TITLE, ALLEGATIONS DID...
Fiduciary Duty, Insurance Law

ALL RISK ARTWORK INSURANCE DID NOT COVER DEFECTIVE TITLE, ALLEGATIONS DID NOT DEMONSTRATE A FIDUCIARY RELATIONSHIP BETWEEN INSURED AND BROKERS (FIRST DEPT).

The First Department determined an all-risk artwork insurance policy did not cover contractual liability to purchasers of stolen art which was returned to the owner. In addition, the court determined the allegations in the complaint against the insurance brokers were insufficient to allege a fiduciary relationship:

“[D]efective title is clearly not a physical loss or damage . . . from any external cause” … . Despite the fact that the phrase “loss or damage” in the policy was not qualified by terms such as “direct” or “physical,” “[w]e may not, under the guise of strict construction, rewrite a policy to bind the insurer to a risk that it did not contemplate and for which it has not been paid” … . “Title insurance has been regarded as a separate type of contract not falling within any of the three basic classes of insurance. . . . It is not reasonable to interpret a policy so broadly that it becomes another type of policy altogether” … . …

The … causes of action, against the insurance broker defendants, were properly dismissed, with leave to replead  … for a “special relationship” with the broker defendants … . “Although the parties’ relationship lasted a considerable period of time and defendant [broker] assured plaintiff that his insurance needs were being met, these circumstances are not so exceptional as to support imposition of a fiduciary duty upon defendant”… . A longstanding relationship alone is insufficient to establish a special relationship between plaintiff and the broker defendants. Dae Assoc., LLC v AXA Art Ins. Corp., 2018 NY Slip Op 01026, First Dept 2-13-18

INSURANCE LAW (ALL RISK ARTWORK INSURANCE DID NOT COVER DEFECTIVE TITLE, ALLEGATIONS DID NOT DEMONSTRATE A FIDUCIARY RELATIONSHIP BETWEEN INSURED AND BROKERS (FIRST DEPT))/ARTWORK, STOLEN (INSURANCE LAW, STOLEN ARTWORK, ALL RISK ARTWORK INSURANCE DID NOT COVER DEFECTIVE TITLE, ALLEGATIONS DID NOT DEMONSTRATE A FIDUCIARY RELATIONSHIP BETWEEN INSURED AND BROKERS (FIRST DEPT))/BROKERS (INSURANCE LAW, ALL RISK ARTWORK INSURANCE DID NOT COVER DEFECTIVE TITLE, ALLEGATIONS DID NOT DEMONSTRATE A FIDUCIARY RELATIONSHIP BETWEEN INSURED AND BROKERS (FIRST DEPT))/FIDUCIARY DUTY (INSURANCE LAW, BROKERS, ALL RISK ARTWORK INSURANCE DID NOT COVER DEFECTIVE TITLE, ALLEGATIONS DID NOT DEMONSTRATE A FIDUCIARY RELATIONSHIP BETWEEN INSURED AND BROKERS (FIRST DEPT))/TITLE (INSURANCE LAW, STOLEN ARTWORK, ALL RISK ARTWORK INSURANCE DID NOT COVER DEFECTIVE TITLE, ALLEGATIONS DID NOT DEMONSTRATE A FIDUCIARY RELATIONSHIP BETWEEN INSURED AND BROKERS (FIRST DEPT))/SPECIAL RELATIONSHIP (INSURANCE LAW, BROKERS, ALL RISK ARTWORK INSURANCE DID NOT COVER DEFECTIVE TITLE, ALLEGATIONS DID NOT DEMONSTRATE A FIDUCIARY RELATIONSHIP BETWEEN INSURED AND BROKERS (FIRST DEPT))

February 13, 2018
Tags: First Department
Share this entry
  • Share on WhatsApp
https://www.newyorkappellatedigest.com/wp-content/uploads/2018/03/NYAppelateLogo-White-1.png 0 0 Bruce Freeman https://www.newyorkappellatedigest.com/wp-content/uploads/2018/03/NYAppelateLogo-White-1.png Bruce Freeman2018-02-13 16:15:352020-02-06 15:28:30ALL RISK ARTWORK INSURANCE DID NOT COVER DEFECTIVE TITLE, ALLEGATIONS DID NOT DEMONSTRATE A FIDUCIARY RELATIONSHIP BETWEEN INSURED AND BROKERS (FIRST DEPT).
You might also like
Broker’s Complaint Stated Causes of Action for Breach of Implied Contract and Unjust Enrichment—Complaint Alleged Broker Was Entitled to a Commission Where Defendant Buyers Abandoned the Potential Purchase in which Broker Was Involved and 18 Months Later Purchased Nearly Identical Property from the Same Seller
THERE WAS NO PROOF THE NOTICE REQUIRED BY RPAPL 1304 WAS MAILED TO THE PROPER ADDRESS (FIRST DEPT).
Where Equitable Relief Described in “Sole Remedy Clause” is Impossible, Monetary Damages Are Available
Fall of a Heavy Rail from a Two- To Three-Foot Stack Was an Elevation-Related Event
Lawsuit Alleging Lehman Brothers’ Substitution of Toxic Securities for High Value Securities Can Go Forward
PLAINTIFF WAS STRUCK BY A CABLE WHICH WHIPLASHED WHEN A TRUCK RAN INTO IT; THE INDUSTRIAL CODE PROVISION REQUIRING SAFETY MEASURES WHEN WORKING NEAR TRAFFIC APPLIED; THE LABOR LAW 241(6) CAUSE OF ACTION SHOULD NOT HAVE BEEN DISMISSED (FIRST DEPT).
SUIT ALLEGING BREACH OF FIDUCIARY DUTY IN CONNECTION WITH THE SALE OF AN ASSET OWNED NEARLY ENTIRELY BY BANKRUPT LEHMAN BROTHERS DISMISSED.
THE PEOPLE’S STATEMENTS OF READINESS FOR TRIAL WERE DEEMED ILLUSORY; CASE DISMISSED ON SPEEDY TRIAL GROUNDS.

Categories

  • Abuse of Process
  • Account Stated
  • Accountant Malpractice
  • Administrative Law
  • Agency
  • Animal Law
  • Appeals
  • Arbitration
  • Architectural Malpractice
  • Associations
  • Attorneys
  • Banking Law
  • Bankruptcy
  • Battery
  • Chiropractor Malpractice
  • Civil Commitment
  • Civil Conspiracy
  • Civil Forfeiture
  • Civil Procedure
  • Civil Rights Law
  • Condominium Corporations
  • Condominiums
  • Constitutional Law
  • Consumer Law
  • Contempt
  • Contract Law
  • Conversion
  • Cooperatives
  • Copyright
  • Corporation Law
  • Correction Law
  • County Law
  • Court of Claims
  • Criminal Law
  • Debtor-Creditor
  • Defamation
  • Dental Malpractice
  • Disciplinary Hearings (Inmates)
  • Education-School Law
  • Election Law
  • Eminent Domain
  • Employment Law
  • Engineering Malpractice
  • Environmental Law
  • Equitable Recoupment
  • Evidence
  • Fair Credit Reporting Act
  • Fair Housing Act
  • Fair Housing Amendments Act
  • False Arrest
  • False Claims Act
  • False Imprisonment
  • Family Law
  • Federal Employers' Liability Act (FELA)
  • Fiduciary Duty
  • Foreclosure
  • Fraud
  • Freedom of Information Law (FOIL)
  • Human Rights Law
  • Immigration Law
  • Immunity
  • Indian Law
  • Insurance Law
  • Intellectual Property
  • Intentional Infliction of Emotional Distress
  • Involuntary Medical Treatment and Feeding (Inmates)
  • Judges
  • Labor Law
  • Labor Law-Construction Law
  • Land Use
  • Landlord-Tenant
  • Legal Malpractice
  • Lien Law
  • Limited Liability Company Law
  • Longshoreman's and Harbor Worker's Compensation Act
  • Malicious Prosecution
  • Maritime Law
  • Medicaid
  • Medical Malpractice
  • Mental Hygiene Law
  • Military Law
  • Money Had and Received
  • Municipal Law
  • Navigation Law
  • Negligence
  • Negligent Infliction of Emotional Distress
  • Negligent Misrepresentation
  • Notarial Misconduct
  • Nuisance
  • Partnership Law
  • Personal Property
  • Pharmacist Malpractice
  • Physician Patient Confidentiality
  • Pistol Permits
  • Prima Facie Tort
  • Private Nuisance
  • Privilege
  • Products Liability
  • Professional Malpractice
  • Public Authorities Law
  • Public Corporations
  • Public Health Law
  • Public Nuisance
  • Real Estate
  • Real Property Actions and Proceedings Law (RPAPL)
  • Real Property Law
  • Real Property Tax Law
  • Religion
  • Replevin
  • Retirement and Social Security Law
  • Securities
  • Sepulcher
  • Sex Offender Registration Act (SORA)
  • Social Services Law
  • Statutes
  • Tax Law
  • Tenant Harassment
  • Tortious Interference with Contract
  • Tortious Interference with Employment
  • Tortious Interference with Prospective Business Relations
  • Tortious Interference With Prospective Economic Advantage
  • Town Law
  • Toxic Torts
  • Trade Secrets
  • Trademarks
  • Trespass
  • Trusts and Estates
  • Uncategorized
  • Unemployment Insurance
  • Unfair Competition
  • Uniform Commercial Code
  • Usury
  • Utilities
  • Vehicle and Traffic Law
  • Victims of Gender-Motivated Violence Protection Law (VGM)
  • Village Law
  • Water Law
  • Workers' Compensation
  • Zoning

Sign Up for the Mailing List to Be Notified When the Site Is Updated.

  • This field is for validation purposes and should be left unchanged.

Copyright © 2025 New York Appellate Digest, Inc.
Site by CurlyHost | Privacy Policy

POLICEMAN AND FIREFIGHTER WERE INJURED BY RISKS INHERENT IN THEIR JOBS AND THEREFORE... PLAINTIFF’S DECEDENT WAS PROVIDED WITH A SAFETY LINE AND A HARNESS WHICH...
Scroll to top