Hearrean

In this declaratory relief action, plaintiffs Century Indemnity Company and Bankers Standard Insurance Company (collectively Century) sought a declaration from the trial court that it had no duty to indemnify a third party claimant, the purchaser of a hotel that was extensively expanded and remodeled by defendant insureds, Roy Hearrean and State Wide Investors, Inc. Both Century and the insureds filed cross-motions for summary judgment, and the trial court granted summary judgment in favor of defendant insureds. On appeal from the ensuing judgment, Century asserts that because the third party claimant did not suffer any injury or damage during the policy periods, as a matter of law, there was no coverage.

Facts

The following facts come from the parties’ stipulation of facts in support of cross-motions for summary judgment.

“The two insureds in this case are an individual, Roy Hearrean (Hearrean), and a company called State Wide Investors, Inc. (‘State Wide’), of which Mr. Hearrean is the President. (Hearrean and State Wide are collectively referred to as the ‘Insureds.’) BD • • • Between 1988 and 1993, Bankers Standard Insurance Company . . . and Insurance Company of…