Westfield Bank FSB v. Allied World Surplus Lines Insurance Company

CourtDistrict Court, S.D. New York
DecidedSeptember 25, 2025
Docket1:24-cv-06940
StatusUnknown

This text of Westfield Bank FSB v. Allied World Surplus Lines Insurance Company (Westfield Bank FSB v. Allied World Surplus Lines Insurance Company) is published on Counsel Stack Legal Research, covering District Court, S.D. New York primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
Westfield Bank FSB v. Allied World Surplus Lines Insurance Company, (S.D.N.Y. 2025).

Opinion

UNITED STATES DISTRICT COURT SOUTHERN DISTRICT OF NEW YORK WESTFIELD BANK FSB, 9/25/2025 Plaintiff, 24-cv-6940 (MKV) -against- OPINION AND ORDER DENYING ALLIED WORLD SURPLUS LINES MOTION TO DISMISS INSURANCE COMPANY, Defendant. MARY KAY VYSKOCIL, United States District Judge: Defendant Allied World Surplus Lines Insurance Company (“Allied World”) moves to dismiss the Amended Complaint of Plaintiff Westfield Bank FSB (“Westfield”). For the reasons set forth below, the motion is DENIED. I. BACKGROUND A. Facts1 0F 1. The Parties Plaintiff Westfield Bank (“Westfield”) is a federally chartered bank with its principal place of business in Ohio. AC ¶ 1. According to Westfield, Defendant Allied World Surplus Lines Insurance Company (“Allied World”), an insurance company, has its principal place of business in New York. AC ¶ 2; see id. ¶¶ 4, 5. 2. The Premium Finance Agreement On November 16, 2022, non-party Primary Source Electric (“Primary Source”), a company 1 The facts are drawn from the Amended Complaint [ECF No. 13 (“AC”)]. The Court accepts all factual allegations in the Amended Complaint as true for purposes of this motion. See Ashcroft v. Iqbal, 556 U.S. 662, 678 (2009). The facts are also drawn from documents that Westfield attached to the Amended Complaint [ECF Nos. 13-1 (“Premium Finance Agreement”), 13-2 (“Notice of Financed Premium”), 13-3 (“Notice of Cancellation”), 13-4 (“Email Exchange”), 13-5, 13-6, 13-7]. See DiFolco v. MSNBC Cable L.L.C., 622 F.3d 104, 111 (2d Cir. 2010). doing business in Colorado, signed a loan agreement with Westfield [ECF No. 13-1 (the “Premium Finance Agreement”)]. See AC ¶ 6. Specifically, in the Premium Finance Agreement, Westfield agreed to loan Primary Source $454,119.20 to finance all of the insurance premiums for a general liability insurance policy issued by Allied World and an auto insurance policy issued by an affiliate

of Allied World. See AC ¶ 7; Premium Finance Agreement at 1; see also AC ¶ 8. The Premium Finance Agreement states that “NO AUDIT OR REPORTING FORM POLICIES, POLICIES SUBJECT TO RETROSPECTIVE RATING OR TO MINIMUM EARNED PREMIUMS ARE INCLUDED.” Premium Finance Agreement at 1. In exchange for the loan, Primary Source agreed to make monthly installment payments and “assign[ed]” to Westfield “any and all unearned premiums and dividends which may become payable under the insurance policies.” Premium Finance Agreement § 2; AC ¶¶ 10, 11. Primary Source gave Westfield “full authority to cancel the insurance policies” if Primary Source failed to make loan payments. Premium Finance Agreement §§ 8, 9; AC ¶ 12. The Premium Finance Agreement states: “This Agreement becomes a binding contract

when LENDER [Westfield] mails a written acceptance to the borrower [Primary Source].” Premium Finance Agreement § 5. Westfield does not specify the date on which it allegedly mailed a written acceptance to Primary Source. 3. The Notice of Financed Premium “On or about November 17, 2022, [Westfield] issued a Notice of Financed Premium to” Allied World [ECF No. 13-2 (the “Notice of Financed Premium”)]. AC ¶ 14. In particular, Westfield alleges that, on November 17, 2022, its employee “generated the ‘Day End’ report used by [Westfield] to automatically generate all notices that need to be sent out relating to any of [its] premium finance arrangements” and “then arranged [for the Notice of Financed Premium] to be printed and sent to [Allied World] via mail at its offices in Connecticut.” AC ¶ 14. Westfield alleges “[u]pon information and belief” that Allied World thereafter “received the Notice of Financed Premium at its Connecticut Address.” AC ¶ 15.2 1F The Notice of Financed Premium states: “LENDER [Westfield] has entered into a contract with your insured [Primary Source] to advance the premiums on the policy described above subject to the conditions stated herein.” Notice of Financed Premium. It provides that “[t]he insured has assigned to [Westfield] any and all unearned premiums and dividends” and that, if Primary Source “default[s]” on its payments to Westfield, Westfield “will cancel the policy in accordance with authority given [to Westfield] by” Primary Source. Notice of Financed Premium; see AC ¶ 17. The Notice of Financed Premium further provides that “IN CONSIDERATION OF LENDER ADVANCING THE PREMIUM THE INSURER AGREES,” as pertinent here, that if Westfield cancels the policy, Allied World will pay Westfield “A) On fixed premium policies - the gross pro rata unearned premium, and “B) On deposit or provisional policies - the gross unearned premium irrespective of the actual premium earned by audit, report or retrospective rating, as if the premium

were fixed.” Notice of Financed Premium (emphasis in original); accord AC ¶ 16. The Notice of Financed Premium states that Westfield “MUST BE ADVISED” if the policy “is auditable” or certain other conditions exist. Notice of Financed Premium (emphasis in original). The Notice of Financed Premium states that “BY SIGNING BELOW” Allied World acknowledges its receipt and accepts the terms of the Notice of Financed Premium. Notice of

2 As explained below, Allied World denies that it ever received the Notice of Financed Premium [ECF No. 19 (“Mem.”) at 3 n.1)]. Westfield, however, alleges that it believes Allied World received the Notice of Financed Premium because “Defendant subsequently confirmed to Plaintiff that it received a Notice of Cancellation that was sent to Defendant at the same address.” AC ¶ 15. Financed Premium (emphasis in original). The signature line is blank, however, in the copy that Westfield attached to its pleading. See Notice of Financed Premium. 4. Westfield Paid the Premiums and Thereafter Cancelled the Policy. Westfield alleges that, after it sent the Notice of Financed Premium to Allied World, it

“made the Loan to [Primary Source] by paying, in full, to the Defendant [Allied World] all of the insurance premiums for the Policy.” AC ¶ 18. According to Westfield, “Defendant accepted the full annual premiums for the Policy from Plaintiff and issued and bound the Policy, thereby assenting and agreeing to the terms of the Notice of Financed Premium.” AC ¶ 18. After making monthly installment payments to Westfield for a number of months, Primary Source failed to make the payments. AC ¶ 20. On or about June 9, 2023, Westfield issued “a Notice of Cancellation” to Allied World “via mail” to “the same Connecticut Address” to which, Westfield alleges, Westfield had previously sent the Notice of Financed Premium [ECF No. 13-3 (the “Notice of Cancellation”). AC ¶ 21. Representatives of Allied World confirmed receipt of the Notice of Cancellation via email [ECF

No. 13-4 (“Email Correspondence”)]. AC ¶ 22. Furthermore, Allied World “subsequently cancelled the Policy.” AC ¶ 22; see Email Correspondence at 2 (“policy canceled”). 5. Allied World Performed an Audit and Refused To Refund Premiums. Westfield alleges that after the policies it had financed for Primary Source were cancelled, Westfield “reached out to” Allied World, the affiliate that had issued the auto insurance policy, and others “to coordinate the prompt return of the unearned premium.” AC ¶ 23. Westfield alleges that the affiliate “refunded unearned premiums.” AC ¶ 24. Allied World, however, “informed” Westfield that, after cancelling the general liability policy it had issued to Primary Source, Allied World had mistakenly failed to perform an audit and “would now be performing an audit.” AC ¶ 25; see Email Correspondence at 2. Thereafter, Allied World informed Westfield that, based on the audit, “no unearned premium was outstanding and that, in fact, additional premium was due and owing.” AC ¶ 30. As such, Westfield alleges, Allied World refused to refund any unearned premium to Westfield. AC ¶ 30.

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Westfield Bank FSB v. Allied World Surplus Lines Insurance Company, Counsel Stack Legal Research, https://law.counselstack.com/opinion/westfield-bank-fsb-v-allied-world-surplus-lines-insurance-company-nysd-2025.