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RELIANCE INS. CO. v. CERTAIN MEMBER COMPANIES

No. 93 Civ. 5304 (DC).

886 F.Supp. 1147 (1995)

RELIANCE INSURANCE COMPANY and New York Marine & General Insurance Company, Plaintiffs, v. CERTAIN MEMBER COMPANIES, Institute of London Underwriters, Defendants.

United States District Court, S.D. New York.

June 1, 1995.

Attorney(s) appearing for the Case

Chalos & Brown by David H. Fromm, Harry A. Gavalas, New York City, for plaintiffs.

Thacher Proffitt & Wood by John M. Woods, Joseph G. Grasso, New York City, for defendants.

OPINION

CHIN, District Judge.

On May 12, 1993, workers aboard the vessel SAMICK NORDIC off the coast of Saudi Arabia were welding a hatch on deck. Sparks fell below onto a cargo of plywood. First the plywood and then the ship caught fire. The ship burned for over a week, and the entire cargo was destroyed.

The plywood was insured by defendants, Certain Member Companies of the Institute of London Underwriters (the "London Underwriters"), who...

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