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On review of submissions pursuant to section 500.4 of the Rules of the Court of Appeals (22 NYCRR 500.4), order affirmed, with costs, for the reasons stated in the memorandum at the Appellate Division (108 AD2d 845). (See also, Dano v Royal Globe Ins. Co., 59 NY2d 827; Hubbell v Trans World Life Ins. Co., 50 NY2d 899.) Insurance Law § 2601 does not require a different result.

Concur: Chief Judge Wachtler and Judges Jasen, Meyer, Simons, Kaye, Alexander and Titone.