"The policy at issue is a political risk insurance policy, not a credit insurance policy," a unanimous First Department panel said, and was not triggered by a Mexican resort company's bankruptcy filing, which "was not an alteration of Mexican law."
May 13, 2015 at 09:00 AM
1 minute read
A Commercial Division ruling allowing a claim to go forward against the issuer of a political risk policy was error, the Appellate Division, First Department, said Tuesday.
“The policy at issue is a political risk insurance policy, not a credit insurance policy,” the unanimous panel said in an opinion by Presiding Justice Luis Gonzalez.
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