Union Labor Life Insurance v. Fidelity & Deposit Co. of Maryland

Each term in the bond issued by the non-party surety, if not specifically defined in the bond, "should be given its plain, ordinary and proper meaning” (Dupack v Nationwide Leisure Corp., 73 AD2d 903 , 905). So viewed, the language of the National Union Fire Insurance of Pittsburgh bond excludes coverage of plaintiff’s loss because the loss was not on a note "executed” by a "customer” of plaintiff. Thus, that bond does not constitute "other insurance” within the meaning of defendant’s bond. Concur—Milonas, J. P., Rosenberger, Wallach, Ross and Tom, JJ.