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CUMMINS, INC. v. ATLANTIC MUTUAL INSURANCE COMPANY

56 A.D.3d 288 (2008)

867 N.Y.S.2d 81

CUMMINS, INC., Appellant, v. ATLANTIC MUTUAL INSURANCE COMPANY, Respondent.

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

November 13, 2008.

With regard to defendant's compensation, the subject insurance agreement primarily relies on a claims handling fee to be calculated by applying a multiplier, or "loss conversion factor" (LCF), and makes plaintiff responsible for a $500,000 deductible for each claim. More specifically, article III (C) provides for an LCF of ".203 of paid or incurred losses"; article III (D) defines "Loss Limitation" as "the amount of incurred losses to [be] included in [the] Paid Loss program...

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