1st Circuit: Reinsurer Only Liable for Asbestos Claims Brought Under 1 of 3 Policies

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.

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 only the first policy.

OneBeacon issued a policy to Harrisons & Crosfield U.S. Inc. …