Opinion
623
March 27, 2003.
Order, Supreme Court, New York County (Martin Schoenfeld, J.), entered on or about January 7, 2002, which, inter alia, granted defendant's cross motion for summary judgment dismissing the complaint, unanimously affirmed, without costs.
Carol A. Sigmond, for plaintiff-appellant.
Lawrence L. Flynn, for defendant-respondent.
Before: Buckley, P.J., Nardelli, Andrias, Ellerin, Friedman, JJ.
Plaintiff was not entitled to a refund of the portion of its bond premiums that corresponded to the contract value of the work remaining under its prematurely terminated construction contract. The risk attached at the inception of the coverage and the bond documents did not provide for a refund in the event of such termination. Under the circumstances, the premiums are deemed fully earned (see Sil-Turn Co. v. London Guar. Acc. Co., 153 Misc. 805, affd 242 App. Div. 829; Bolden v. Blue Cross Blue Shield Assn., Inc., 848 F.2d 201, 209;Fleetwood Acres, Inc. v. Fed. Hous. Admin., 171 F.2d 440, 442). We have considered plaintiff's other contentions and find them unavailing.
THIS CONSTITUTES THE DECISION AND ORDER OF THE SUPREME COURT, APPELLATE DIVISION, FIRST DEPARTMENT.