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WELLS FARGO BANK, N.A. v. LLOYD'S SYNDICATE AGM 2488

Index No. 651039/19. Appeal No. 13956. Case Nos. 2020-01991, 2020-01984.

195 A.D.3d 434 (2021)

144 N.Y.S.3d 590

2021 NY Slip Op 03431

Wells Fargo Bank, N.A., et al., Appellants, v. Lloyd's Syndicate AGM 2488 et al., Respondents.

Appellate Division of the Supreme Court of New York, First Department.

Decided June 1, 2021.

Attorney(s) appearing for the Case

Reed Smith LLP, New York ( John N. Ellison of counsel), for appellants.

Kennedys CMK LLP, New York ( William J. Brennan of counsel), for Lloyd's Syndicate AGM 2488, Lloyd's Syndicate BRT 2987, Lloyd's Syndicate NVA 2007, Lloyd's Syndicate PEM 4000 and Aspen Insurance UK Ltd., respondents.

Skarzynski Marick & Black LLP, New York ( Michael B. Chester of counsel), for XL Specialty Insurance Co., respondent.

Concur—Gische, J.P., Webber, Singh, Kennedy, JJ.

None of the reinsurance contracts at issue, including the January 4, 2010 Underwriters Reinsurance Policy (URP), issued by Lloyds contain a "cut through" provision allowing the original insured, plaintiff Wells Fargo's predecessor in interest, Wachovia Corporation, to bring suit directly against the reinsurers (see OneBeacon Am. Ins. Co. v Colgate-Palmolive Co., 123 A.D.3d 222, 227-228 [1st Dept 2014]; Matter of Union Indem. Ins...

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