Two reinsurers that shared part of the risk on a $25 million umbrella policy issued to a New York manufacturer nearly five decades ago are not liable for defense costs in addition to the policy limits, the 2nd Circuit Court …
Confusing language in a policy issued by an excess insurer puts the carrier on the hook for up to $5 million in clean-up costs after a policyholders’ tanker truck overturned and spilled its load of fuel, the 1st Circuit Court …
A federal appellate court on Tuesday overturned a jury’s award of $64 million against Fireman’s Fund Insurance Co. for allegedly breaching the terms of a reinsurance agreement. The 2nd Circuit Court of Appeals found that Fireman’s Fund was not liable …