Reinsurer Only Liable for Claims Brought Under 1 of 3 Policies, 1st Cir. Affirms
July 25, 2012
BOSTON - A reinsurer is only obligated to indemnify OneBeacon Insurance Co. for asbestos claims brought under the first of three consecutive insurance policies because there is no evidence that the first policy was renewed by the following two policies, a federal appellate court has affirmed. OneBeacon America Insurance Co. v. Commercial Union Assurance Company of Canada, No. 11-2072 (1st Cir.).
On July 11, the 1st Circuit U.S. Court of Appeals upheld a summary judgment ruling in favor of Aviva Insurance Company of Canada, ruling that the facultative certificate clearly states that it was in effect for the term of ...