Area Erectors, Inc. v. Travelers Property Casualty Company of America

Court properly entered judgment on the pleadings, and properly found that actual cash value was the proper valuation, under the policy, for the loss of a construction crane. Bona fide coverage dispute existed, as other insurer contended that replacement value was the proper method of valuation. Thus, court properly denied claims for Section 155 penalties on the crane claim. (PALMER and TAYLOR, concurring.)