Paul Tishman Co. v. Carney & Del Guidice

In Paul Tishman Co. v. Carney & Del Guidice (34 NY2d 941 [1974]) the Court of Appeals permitted subrogation against an additionally insured, stating, in relevant part, that: "defendant's insurable interest under the [subject policy] was limited to its property interest in the building under construction - i.e., the tools, labor and material furnished or owned by the defendant. Since no part of the damages alleged by the plaintiff in this litigation was for destruction of any property owned or furnished by the defendant, it cannot be said that the defendant was a coinsured under the terms of the policy with respect to the loss caused by the fire." (34 NY2d at 942 - 943).