STORY FROM: Reinsurance & Arbitration
Florist’s Counterclaims for Declaratory Judgment Against Endurance in Reinsurance Action
February 15, 2017
NEW YORK — Florist’s Insurance Co. has filed a counterclaim against Endurance Assurance Corp. in a dispute arising from a 2008 deadly trucking accident, asserting that Endurance cannot escape liability by alleging breach of the reinsurance agreement’s late notice provision.
In its Feb. 14 answer and counterclaim filed in the U.S. District Court for the Southern District of New York, Florist’s asserts that it provided Endurance notice of the underlying litigation as early as 2013. Florist’s further contends that its $890,030 reinsurance claim is not excluded from coverage.
Florist’s issued a business auto insurance policy and an umbrella policy to ...