Court Opinion

ID: 9551781
Source: CourtListenerOpinion
Date Created: 2023-08-07 18:59:04.62243+00
Date Added: 2024-06-11T15:24:36.779129
License: Public Domain

O’CONNELL, C. J.,
dissenting.
It is my opinion that money paid by the insured as a reward for the return of the stolen property covered by the policy does not constitute a “loss by theft.” I do not think that it is reasonable to construe the policy as binding the insurer to pay an amount of money which would be left entirely to the discretion of the insured and which he might fix on the basis of factors having no objective standard. Thus, the insured might offer a large reward because the stolen property had a sentimental value to him.
Since the insurer is obligated to pay for the loss by theft, it would be more reasonable to assume that the insurer rather than the insured would have the right to decide Avhether it Avished to attempt to recoup its loss by offering a reward.
I would adopt the view taken by the trial judge and affirm the judgment.