Opinion
October 30, 1997
Appeal from Supreme Court, New York County (Stephen Crane, J.).
We agree with the IAS Court that the insureds' third-party complaint, liberally construed, states a cause of action for fraud in alleging that the brokers induced the insureds to cancel the insurance they already had in order to take out insurance with plaintiff for a quoted premium; that although they paid the premium, plaintiff canceled the policy, claiming additional premiums above the quote were due; and that the insureds incurred losses as a result.
Concur — Sullivan, J.P., Milonas, Wallach, Williams and Colabella, JJ.