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eBook details

• Title: Matter Arbitration Between Albert Furstenberg
• Author : Supreme Court of New York
• Release Date : January 03, 1979
• Genre: Law,Books,Professional & Technical,
• Pages : * pages
• Size : 70 KB

Description

This case arises under the so-called "no-fault" insurance law (Insurance Law, § 670 et seq.). The dispute is essentially between two insurance companies, respondent Allstate which insured the automobile involved at least until April 30, 1977 (the accident being on May 18, 1977), and appellant Aetna which had issued an automobile liability policy to the claimant. On April 30, 1977, Allstate purported to cancel its policy by a notice which failed to comply with the statutory requirement, subdivision 1 of section 313 of the Vehicle and Traffic Law, that it "include in type of which the face shall not be smaller than twelve point a statement that proof of financial security is required to be maintained continuously throughout the registration period and that failure to maintain such proof of financial security requires revocation of the registration of the motor vehicle". Indeed the notice of cancellation did not contain the required statutory statement at all in any kind of type. Nevertheless, Allstates insured (Felix Cruz Realty, Inc., hereinafter "Cruz") consulted its broker about obtaining other insurance and kept the vehicle in a garage because Cruz knew it did not have insurance. The automobile was apparently stolen and it was after its theft that the accident occurred.

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