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SHARED-INTEREST MGT. v. CNA

283 A.D.2d 136 (2001)

725 N.Y.S.2d 469

SHARED-INTEREST MANAGEMENT, INC., Respondent, v. CNA FINANCIAL INSURANCE GROUP, Also Known as CNA FINANCIAL INSURANCE, et al., Appellants.

Appellate Division of the Supreme Court of the State of New York, Third Department.

June 7, 2001.

Attorney(s) appearing for the Case

Stockman, Wallach, Lentz & Gamell, L. L. P., New York City (Mark S. Gamell of counsel), for appellants.

Walsh & Walsh, L. L. P., Saratoga Springs (Michael S. Caruso of counsel), for respondent.

Wolff & Samson, Roseland, New Jersey (Scott D. Baron of counsel), for The Surety Association of America, amicus curiae.

PETERS, CARPINELLO, ROSE and LAHTINEN, JJ., concur.

OPINION OF THE COURT

MERCURE, J. P.

Plaintiff had in effect a renewal commercial crime insurance policy issued by defendant Firemen's Insurance Company of Newark, New Jersey, a subsidiary of defendant Continental Insurance Company, for the period June 8, 1993 to June 8, 1996 (hereinafter the Continental policy period) and, following Continental's merger with defendant CNA Financial Insurance Group, for the period June 8, 1996 to June 8, 1999 (hereinafter...

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