Valley Improvement Association V. Hartford Accident And Indemnity Co‪.‬

Plaintiff-appellee Valley Improvement Association, Inc. ("VIA") filed a declaratory action for damages against defendant-appellant Hartford Accident and Indemnity Company ("Hartford"). Pursuant to its Hartford insurance policies, VIA sought judgment declaring that Hartford must indemnify it for any liability resulting from Yates Exploration, Inc. v. Valley Improvement Association, Inc., No. VA-86-61-CV (N.M.Dist.Ct. filed Feb. 13, 1986) (the " Yates " action), a lawsuit alleging various types of misconduct by VIA regarding its management and development of certain investment property in central New Mexico. VIA also sought a declaration that Hartford must pay for its defense of the Yates action. Insurance Company of North America, Inc. ("INA"), an insurer of VIA that voluntarily assumed its duty to defend VIA in the Yates action, intervened on the side of VIA.