Granite State Amends $3.4 Million Suit Against Clearwater

NEW YORK - Granite State Insurance Co. has filed an amended complaint against Clearwater Insurance Co., seeking $3.4 million in reinsurance coverage for underlying asbestos claims brought against Colt Industries Inc. and McGraw Edison Co. Granite State Insurance Co. v. Clearwater Insurance Co., No. 09-10607 (S.D. N.Y.).

The May 11 amended complaint, filed in the U.S. District Court for the Southern District of New York, also seeks reformation of the facultative certificate covering the policy issued to Colt Industries.

According to the amended complaint, Granite State insured Colt Industries Inc. from July 1, 1979, to July 1, 1980. Granite State …