STORY FROM: Reinsurance & Arbitration
Cross-Motions For Summary Judgment Denied in N.Y. Asbestos Loss Allocation Dispute
April 8, 2016
NEW YORK — A New York federal judge has denied cross-motions for summary judgment in a dispute over whether Fireman Fund Insurance Co. properly allocated underlying asbestos losses, explaining that more briefing on the issue is required before a decision can be made.
On March 31, Judge Paul G. Gardephe of the U.S. District Court for the Southern District of New York explained that the briefing before the court does not adequately address the cases addressing the allocation issue.
FFIC issued three one-year excess umbrella liability policies to ASARCO Inc. The first policy (Policy 1) was effective from March 15, ...
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