[DOWNLOAD] "Chase Resorts v. Safety Mutual Casualty" by Supreme Court of New Mexico * eBook PDF Kindle ePub Free

July 05, 2021

eBook details

Title: Chase Resorts v. Safety Mutual Casualty
Author : Supreme Court of New Mexico
Release Date : January 23, 1993
Genre: Law,Books,Professional & Technical,
Pages : * pages
Size : 68 KB

Description

Chase Resorts, Inc., appellant, appeals the granting of summary judgment in favor of respondent, Safety Mutual Casualty Corporation (Safety Mutual), appellants excess insurer. Appellant filed a declaratory judgment action against Safety Mutual and the Missouri Property and Casualty Insurance Guaranty Association (MIGA) seeking: (1) a declaration of the rights and obligations of the parties under the MIGA Act Â§Â§ 375.771 to 375.779 R.S.Mo. Cum. Supp. 1989 and the insurance policies of North West Insurance Company (North-West), appellants underlying insurer, and Safety Mutual; (2) an order for either MIGA or Safety Mutual to pay appellants attorneys fees in the underlying litigation plus interest; and (3) the attorneys fees and costs of this action. On appeal, appellant contends that the trial court erred as a matter of law in granting summary judgment for the following reasons: (1) the language of Safety Mutuals excess insurance policy defining "Ultimate Net Loss" entitles appellant to be reimbursed for all its legal costs after the initial verdict; and (2) the underlying insurance was exhausted when the verdict of $700,000 was rendered, and thus, Safety Mutual had the duty and obligation to defend appellant.