The defendant insurer brought a motion for summary judgment to dismiss the plaintiff's action for compensation under a marine insurance policy for damaged cargo.
The defendant argued the plaintiff lacked an insurable interest and suffered no loss because the buyer paid in full.
The court found the plaintiff maintained an insurable interest throughout the voyage under the broad definition in the Marine Insurance Act.
However, the court granted summary judgment dismissing the action because the plaintiff failed to provide sufficient evidence that it suffered a loss, relying only on a bald assertion that it was short-paid on subsequent shipments.
