Granite State Seeks Summary Judgment in $4.4 Million Dispute

NEW YORK - Granite State Insurance Co. has moved for summary judgment in its suit against Clearwater Insurance Co., arguing that the reinsurer is bound by the follow the fortunes doctrine to pay $4.4 million toward Granite State's settlement of underlying asbestos injury claims. Granite State Insurance Co. v. Clearwater Insurance Co., No. 09-10607 (S.D. N.Y.).

In its June 9 motion filed in the U.S. District Court for the Southern District of New York, Granite State asserts that it provided timely notice of the asbestos losses and that Clearwater may not challenge its decision to use the "rising bathtub" allocation …