Smith & Wesson v. Birmingham Fire Insurance Co. - New York Appellate Division (Sandler J.P., Carro, Asch & Milonas JJ.) - 20 January 1987

Insurance law - Rights of third party judgment creditor against judgment debtor’s insurer

Two cases of the plaintiff’s revolvers were lost in the course of carriage to Finland in 1976. The carrier’s liability insurance policy provided $25,000 liability coverage for losses of goods arising while the goods were in the carrier’s vehicle, but also limited liability to the value stated in the warehouse receipt.