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TREASURE CRAFT JEWELERS, INC. v. JEFFERSON INS. CO

April 27, 1977

TREASURE CRAFT JEWELERS, INC.
v.
JEFFERSON INSURANCE COMPANY OF NEW YORK



The opinion of the court was delivered by: GORBEY

 The $25,000 question in this case is: "Is the risk of loss from burglary of property from premises located and utilized by plaintiff as a jewelry store at the Southampton Shopping Center, Southampton, Pennsylvania, covered by a scheduled personal property floater policy, bearing no. SP429342, issued by the defendant?".

 The Jewelers' Block Coverage Form NC-8A, attached to and forming a part of the policy provides, inter alia :

 
"This company does insure the aforementioned Insured, whose premises are located 7022 Bristol Pike, Levittown, Pennsylvania.
 
Limitations of Liability.
 
2. The maximum liability of the Company resulting from any one loss, disaster or casualty is limited to:
 
A. $100,000. in respect of property of the Insured's premises as described herein; . . .
 
E. $25,000.00 in respect of property elsewhere and not included in Clauses (A) . . . above or otherwise limited herein.
 
Property Insured
 
3. The property insured is as follows:
 
A. Pearls, precious and semi-precious stones, jewels, jewelry, watches and watch movements, gold, silver, platinum, other precious metals and alloys and other stock usual to the conduct of the Insured's business, owned by the Insured;
 
B. Property as above described, delivered or entrusted to the Insured by others who are not dealers in such property or otherwise engaged in the jewelry trade;
 
C. Property as above described, delivered or entrusted to the Insured by others who are dealers in such property or otherwise engaged in the jewelry trade, but only to the extent of the Insured's own actual interest therein because of money actually advanced thereon, or legal liability for loss of or damage thereto."

 Among the five endorsements added to the policy is: " Property in Custody of Personnel Away From Premises Endorsement (Applicable When Policy Limit 2 (E) Exceeds $5,000) . . .". "It is understood and agreed that the liability of the Company for property in the custody of the Insured, any employee, member of the firm, or officer of the corporation or salesman outside the premises of the Insured (as referred to in this policy) is limited to $5,000 unless the name of such individual is listed hereunder. Edward McMenamen, Donald Bound, Paul Metzner, Dan Monteith." (Emphasis added)

 Plaintiff has filed the affidavit of Donald J. Bound, apparently the same individual referred to above as Donald Bound. In this he deposes and says:

 
"1. At all relevant times and at present he was and is President and chief executive officer of the plaintiff, and of the other insureds named in the policy issued by defendant Jefferson Insurance Company of New York, being number SP 429342.
 
2. As said President and chief executive officer he at all relevant times had and has supervisory powers over the operation of the Southampton store of plaintiff.
 
3. Since Donald J. Bound had overall supervisory powers of the said Southampton store and in fact actively at all relevant times exercised supervisory powers over said store and in fact spent a substantial amount of time at said store, the contents of the said store were in his ...

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