Merchants Fire Assurance Corporation v. Ann E. Lattimore

In this action, Miss Ann E. Lattimore, the insured under a policy of personal property insurance, recovered judgment against the insurer in the sum of $17,034. Of this sum $7,084 was for loss in connection with the disappearance of, or damage to, scheduled fine arts. The remaining $9,950 was for loss due to the disappearance of, or damage to, unscheduled personal property covered by a personal property floater provision of the policy.

Appealing to this court, defendant, Merchants Fire Assurance Corporation, contends that with regard to the scheduled fine arts the trial court should have found the loss to be $4,339.45 instéad of $7,084. Concerning the $9,950 loss relating to unscheduled personal property, the company contends that it should have been relieved from all liability on its defense of concealment and misrepresentation of a material fact.

We will first consider the issues pertaining to that part of the award having to do with scheduled fine arts.

Under the policy, scheduled fine arts were insured by an endorsement which listed and described 131 objects of art. Each such item was separately valued at a specific figure and insured for that amount. The company concedes…