(Download) "Ingersoll-Rand Financial Corp. v. Employers Insurance of Wausau" by United States Court of Appeals for the Fifth Circuit " eBook PDF Kindle ePub Free
eBook details
- Title: Ingersoll-Rand Financial Corp. v. Employers Insurance of Wausau
- Author : United States Court of Appeals for the Fifth Circuit
- Release Date : January 23, 1985
- Genre: Law,Books,Professional & Technical,
- Pages : * pages
- Size : 74 KB
Description
Based upon admiralty and maritime jurisdiction, 28 U.S.C. § 1333, Fed. R. Civ. P. 9(h), the plaintiff-mortgagee ("Ingersoll-Rand") sues the defendant hull insurer ("Employers") of a vessel to recover under a "standard" loss-payee mortgage clause. The hull insurance policy issued to the insured owner-mortgagor ("Mire") of the vessel covered only named perils; these did not include only named perils; these did not include the theft of the vessel. Under the findings of fact of the district court, which are not clearly erroneous, Fed. R. Civ. P. 52(a), the loss of the vessel was caused by the theft of the vessel, but the theft resulted from the negligent acts or omissions of the insured, Mire. The district court granted Ingersoll-Rand, the plaintiff-mortgagee, recovery against Employers, the defendant insurer; the latter appeals, contending that the mortgagee cannot recover for a risk not covered by the insuring agreement between the owner-mortgagor and the insured.