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Cyprus Amax Minerals Company v. Lexington Insurance Company6/16/2003
ch case necessarily turns on the language of the policy at issue in that case and the nature of the claim made. We do not view the cited cases as persuasive, given the language of these policies and the nature of Coeur's claims.
The facts before us do, unequivocally, involve an accident: the subsidence of the Mine. They do not involve a circumstance in which the value of the stock was not as represented because of undisclosed financial liabilities or the depth of the mineral deposit. There was an accident here.
We need not reach as far as the court in Sheets v. Brethren Mut. Ins. Co., 679 A.2d 540 (Md. 1996), which uses a more relaxed standard for evaluating the necessary occurrence or accident. The court in Sheets analyzed whether insurers owed a duty to defend and a duty to indemnify in a lawsuit alleging that the sellers of a farmhouse intentionally and negligently misrepresented that the septic system was in good working order. Id. at 541. Finding that the loss of use of the property constituted "property damage" under the policy, the Court went on to determine if negligent misrepresentations met the definition of "occurrence," or "accident" under the policy. Id. at 545-51. The Court analyzed the apparent split in authority over the issue, and concluded that an interpretation of a policy denying coverage for damages that are the natural and probable consequences of negligent acts is too limiting. Id. Instead, the Court read the definition of "accident" to include negligent misrepresentation if the insured did not expect or foresee the resulting damage. Id. at 551. See also Gaylord Chem. Corp. v. Propump, Inc., 753 So. 2d 349, 353 (La. Ct. App. 2000) (allowing property damages where pump failed to operate as represented at time of sale).
Accordingly, under a plain reading of the policy, we conclude that the indemnification provisions apply when Cyprus faces legal liability because of property damage that results from an accident, in this case the landslide. The policy does not require that Cyprus must have caused the landslide, but rather only that Cyprus must be found, or agree to be held, liable for the same.
VII. Conclusions
Because we view the case as presenting material issues of disputed fact, we now reverse the court of appeals' decision upholding the trial court's entry of summary judgment and remand for proceedings consistent with this opinion.
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