Produce Refrigerating Company v. Norwich Union Fire Insurance Society
| Citation | 98 N.W. 100,91 Minn. 210 |
| Decision Date | 29 January 1904 |
| Docket Number | 13,606 - (141) |
| Parties | PRODUCE REFRIGERATING COMPANY v. NORWICH UNION FIRE INSURANCE SOCIETY and Others |
| Court | Minnesota Supreme Court |
Original Opinion Filed January 8, 1904
Insurance -- Arbitration.
In an action to set aside the award of arbitrators appointed to assess damages caused by fire, as provided by the Minnesota standard policy, held:
1. The evidence supports the finding of the court to the effect that one of the arbitrators was not impartial and disinterested.
2. That the insured did not have such knowledge of the arbitrator's disqualification as would prevent it from objecting to the award.
3. That the insured did not accept the award or recognize its validity, and did not unreasonably delay its repudiation upon the ground that the arbitrator was not disinterested and unprejudiced.
4. The finding of the court as to damages is supported by the evidence.
5. The complaint having stated the ground upon which the award was claimed to be invalid, appellants had the option of submitting to a new appraisement, or standing upon the validity of the award; and, having elected to stand upon the award, they are bound by the judgment.
On January 29, 1904, the following opinion was filed:
Petition on Rehearing
The date from which interest should be computed not having been disposed of by the former decision, a reargument was granted upon that question.
The order of the trial court directed judgment to be entered, with interest from February 4, 1902, the date of the award returned by the arbitrators. At the argument it was stipulated that the conclusion of law to this effect should be treated as amended so as to direct the computation of interest from April 8, sixty days thereafter. It is now submitted by respondent that interest should run from September 16, 1902, the last day for answering, as specified in the summons.
The standard policy provides that the loss shall be paid within sixty days after the insured submits a statement containing proofs of loss, and that the insurer "shall not in any case be liable for more than the sum insured, with interest thereon from the time when the loss shall become payable as above provided." Laws 1897, pp. 470, 471 (c. 254). The clear import of this language is that interest shall begin to run sixty days after the proofs are submitted, unless the date such liability...
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