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INTERNATIONAL SURPLUS INS. v. UNDERWRITERS AT LLOYD

No. C2-92-829.

868 F.Supp. 917 (1994)

INTERNATIONAL SURPLUS LINES INSURANCE COMPANY, Plaintiff v. CERTAIN UNDERWRITERS AND UNDERWRITING SYNDICATES AT LLOYD'S OF LONDON, Subscribing to Lloyd's Policy Nos. 614/NC 8097; 614/NC 8098; 614/NC 8100; 614/NC 8101; 614/NTA 208; 614/NTA 209; 614/NTA 210; 614/NTA 211; 614/NTA 662; 614/NTA 663; 614/NTA 664; 614/NTA 665; 614/NTB 086; 614/NTB 087; 614/NTB 088; 614/NTB 089; Abeille-Paix Reassurances; Allianz International Insurance Company Ltd; Banco De Seguros Del Estado; Beacon Insurance Company; Bermuda Fire & Marine Insurance Company Ltd; British National Life Insurance Society Ltd; Brittany Insurance Company Ltd; Bryanston Insurance Company Ltd; Caja Nacional De Ahorro Y Seguro; CNA Reinsurance of London Ltd; Compagnie D'Assurances Industrielles; Dominion Insurance Company Ltd; Folksam International Insurance Company (UK) Ltd; Grupo De Empresas Seguradora Brasileiras; Heddington Insurance Company (UK) Ltd; Inder Instituto Nacional De Reaseguros; Instituto De Reasseguros Do Brasil; Lexington Insurance Company; Ludgate Insurance Company Ltd; Nissan Fire & Marine Insurance Company Ltd; North Atlantic Insurance Company Ltd; Pacific & General Insurance Company Ltd; Scottish & Commonwealth Insurance Company Ltd; Sovereign Marine & General Insurance Company Ltd; St. Katherine Ins. Co.; Storebrand Insurance Company (UK) Ltd; Stronghold Insurance Company Ltd; Tiasho Marine & Fire Insurance Company (UK) Ltd; Terra Nova Insurance Company Ltd; Tokio Marine & Fire Insurance Company (UK) Ltd; Union Atlantique D'Assurances S A; Vera Cruz Seguradora S A; Winterhur Swiss Insurance Company; Yasuda Fire & Marine Insurance Company (UK) Ltd; La Fonciere Compagnie D'Assurances Et Reassurances Transports; Compagnie Europeene D'Assurances Industrielles, Defendants.

United States District Court, S.D. Ohio, Eastern Division.

September 27, 1994.

Attorney(s) appearing for the Case

Michael Proctor Graney, Simpson Thacher & Bartlett, Columbus, OH, for plaintiff.

Mark E. Defossez, Reminger, Reminger, Hunter & Enders, Columbus, OH, Wendy B. Millman, Mendes & Mount; Leonard A. Sheft, Sheft & Sheft, New York City, Douglas Michael Kennedy, Roetzel & Andress, Columbus, OH, and Gerald A. Greenberger, Sheft & Sheft, Jersey City, NJ, for defendants.

OPINION and ORDER

BECKWITH, District Judge.

This matter is before the Court on Plaintiff's motion for summary judgment. This order considers whether several reinsurers must reimburse their reinsured, the International Surplus Lines Insurance Company ("ISLIC") for losses it incurred when the Owens-Corning Fiberglass Company ("Owens-Corning") was confronted with hundreds of millions of dollars in asbestos-related claims. ISLIC filed this diversity action...

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