Zurich Asks Court to Reform 1998 Phoenix Labs Insurance Policy

BROOKLYN, N.Y. - American Zurich Insurance Co. has filed a declaratory judgment action asking a federal court to reform a 1998 policy issued to a drug manufacturer to exclude products and completed acts. American Zurich Insurance Co. v. Phoenix Laboratories Inc., et al., No. 04-3258 (E.D. N.Y.).

American Zurich filed the complaint on July 29 in the U.S. District Court for the Eastern District of New York.

The carrier contends that it issued policies from 1991 to 2003 to Phoenix Laboratories and/or its affiliates, and that each year the parties agreed to exclude products and completed operations from coverage.

That …