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    3382   JP3422950000

SEVEN & I HOLDINGS CO., LTD.

(3382)
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Seven & i : William v. NYPIUA

09/03/2021 | 04:08am EDT

Williams v. New York Property Insurance Underwriting Association, New York Co. Index No. 151083/2014 (NY Sup. Ct. New York Co. 2019)

This case involved the failure of the insured to allow an inspection of his premises. The insured requested an increase in coverage and his insurer, New York Property Insurance Underwriting Association, directed that its independent inspection company inspect the premises for insurability. The insured operated an automobile repair business in Nassau County. Attempts to reach the insured were unsuccessful. NYPIUA wrote the insured reminding him of his obligation to arrange an inspection and warned him of the possibility of cancellation. Contact was then made with NYPIUA and a new inspection was ordered, but the insured again failed to arrange an inspection. NYPIUA then mailed a cancellation notice effective more than a month later at 12:01 A.M. on a date certain. The insured suffered a total loss twelve hours later as the result of an accidental fire caused by an employee undertaking an automobile repair. After examinations before trial of the insured and a representative of NYPIUA, NYPIUA moved for summary judgment, submitting to the court the deposition transcripts as well as affidavits of employees of the independent inspection company showing their well-documented attempts to arrange the inspection and the failure of the insured to respond. The cancellation practices of NYPIUA were also spelled out in the moving papers. The insured claimed NYPIUA's procedures were unreasonable in the answering papers. The court found that NYPIUA had acted properly in ordering the inspection, attempting to conduct the inspection, and issuing the cancellation notice. The court went on to find: "Plaintiff has failed to show in its opposition that he did not receive the cancellation notice or that the cancellation letter was received in an untimely manner." Finding no issue of fact to be tried, the court granted summary judgment to NYPIUA.

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The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

Mr Constantino P. Suriano
Mound Cotton Wollan & Greengrass
One New York Plaza
44th Floor
New York
10004
UNITED STATES

© Mondaq Ltd, 2021 - Tel. +44 (0)20 8544 8300 - http://www.mondaq.com, source Business Briefing

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Financials
Sales 2022 8 084 B 70 723 M 70 723 M
Net income 2022 210 B 1 840 M 1 840 M
Net Debt 2022 1 189 B 10 404 M 10 404 M
P/E ratio 2022 20,6x
Yield 2022 2,16%
Capitalization 4 250 B 37 229 M 37 187 M
EV / Sales 2022 0,67x
EV / Sales 2023 0,56x
Nbr of Employees 57 270
Free-Float 84,0%
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Seven & i Holdings Co., Ltd. Technical Analysis Chart | 3382 | JP3422950000 | MarketScreener
Technical analysis trends SEVEN & I HOLDINGS CO., LTD.
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Mean consensus BUY
Number of Analysts 13
Last Close Price 4 813,00 JPY
Average target price 6 058,46 JPY
Spread / Average Target 25,9%
EPS Revisions
Managers and Directors
Ryuichi Isaka President & Representative Director
Yoshimichi Maruyama General Manager-Finance & Accounting
Toshiro Yonemura Independent Outside Director
Kunio Ito Independent Outside Director
Yoshio Tsukio Independent Outside Director
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