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TRAVELERS CAS. v. INSURANCE CO. OF NORTH AMERICA

Nos. 06-4100, 06-4101, 07-4690, 08-1032.

609 F.3d 143 (2010)

TRAVELERS CASUALTY AND SURETY COMPANY, f/k/a The Aetna Casualty and Surety Company, Appellant/Cross-Appellee v. *INSURANCE COMPANY OF NORTH AMERICA, Appellee/Cross-Appellant *Per Court's Order of 10/7/08.

United States Court of Appeals, Third Circuit.

Opinion filed June 9, 2010.

Attorney(s) appearing for the Case

Vincent J. Proto, Esquire, Joseph J. Schiavone, Esquire, (Argued), Marc I. Bressman, Esquire, Donald P. Jacobs, Esquire, Budd, Larner, Gross, Rosenbaum, Greenberg & Sade, Short Hills, NJ, for Appellant/Cross Appellee Travelers Casualty and Surety Company.

James M. Dennis, Esquire, Wayne R. Glaubinger, Esquire, (Argued), Olga Sekulic, Esquire, Mound, Cotton, Wollan & Greengrass, New York, NY, Lawrence Nathanson, Esquire, Siegal & Park, Mt. Laurel, NJ, for Appellee/Cross Appellant Insurance Company of North America.

Before: AMBRO, ROTH and ALARCÓN, Circuit Judges.

OPINION OF THE COURT

AMBRO, Circuit Judge.

This is a dispute over reinsurance coverage. In 1998, Travelers Casualty and Surety Co. ("Travelers") reached a $137 million settlement with its insured, Acme Corporation ("Acme").1 Travelers then proceeded to allocate those $137 million dollars among three tiers of insurance coverage, only the highest of which—the so-called "excess"...

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