New York Appellate Court Affirms Dismissal of Reinsurers' Action

NEW YORK -- The New York Appellate Division has affirmed dismissal of a reinsurers' action, which was dismissed on the ground that an identical action was filed in Connecticut. Certain Underwriters at Lloyd's, et al. v. Hartford Accident, et al., No. 05-01662 (N.Y. App. Div., First Dept.).

In a March 8 decision, the First Department of the New York Appellate Division found that the lower court did not abuse its discretion when dismissing the action in which Lloyd's Underwriters sought a declaration that they owed no coverage to insurers for an underlying $1.5 billion asbestos settlement.

'Inasmuch as it was …