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TRAVELERS PROPERTY CASUALTY CO. OF AMERICA v. SUPERIOR COURT

Nos. B243650, B244334.

215 Cal.App.4th 561 (2013)

155 Cal. Rptr. 3d 459

TRAVELERS PROPERTY CASUALTY COMPANY OF AMERICA et al., Petitioners, v. THE SUPERIOR COURT OF LOS ANGELES COUNTY, Respondent. MICHAEL M. BRAUM, as Trustee, etc., Real Party in Interest. KORAM INSURANCE CENTER, INC., Petitioner, v. THE SUPERIOR COURT LOS ANGELES COUNTY, Respondent. MICHAEL M. BRAUM, as Trustee, etc., Real Party in Interest.

Court of Appeals of California, Second District, Division Three.

April 17, 2013.

Attorney(s) appearing for the Case

Weston & McElvain, Wynn C. Kaneshiro and Robin H. Jung for Petitioners Travelers Property Casualty Company of America and the Travelers Indemnity Company.

Musick, Peeler & Garrett and Steven T. Adams for Petitioner Koram Insurance Center, Inc.

No appearance for Respondent.

Martin E. Jacobs, Inc., and Martin E. Jacobs for Real Party in Interest.

OPINION

CROSKEY, J. —

A developer obtained a construction loan from a bank, and began construction on a multiunit condominium complex. The bank required the developer to maintain builder's risk insurance (i.e., a construction policy) on the property and to identify the bank, and its successors and assigns, as loss payee. The developer, apparently, did so. Eventually, when the condominium...

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