ACE American Insurance Company v. American Guarantee & Liability Insurance Company
| ACE American Insurance Company |
| American Guarantee & Liability Insurance Company |
| American Guarantee & Liability Insurance Company |
| ACE American Insurance Company |
| 1:2016cv08773 |
| November 11, 2016 |
| US District Court for the Southern District of New York |
| Foley Square Office |
| XX Out of State |
| Jed S. Rakoff |
| Insurance |
| 28 U.S.C. ยง 1332 |
| None |
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Filing
42
OPINION AND ORDER re: 24 MOTION for Summary Judgment Plaintiff ACE American Insurance Company's Notice of Motion for Summary Judgment filed by ACE American Insurance Company, 25 MOTION for Summary Judgment filed by American Guarantee & Liability Insurance Company. In this action, plaintiff ACE American Insurance Company ("ACE") and defendant American Guarantee & Liability Insurance Company ("American Guarantee") dispute whether and to what extent ACE or American Guarantee is ultimately responsible for funding a $5 million share of a $24 million settlement of a state-court personal injury lawsuit. To conclude the settlement and resolve that lawsuit, ACE paid $3.5 million and American Guarantee paid $1.5 million, with each reserving its right to contest its obligations in a subsequent lawsuit, i.e., the instant action. Currently before the Court are the parties' cross-motions for summary judgment, e ach of which seeks a declaration that the other insurer was responsible for the entire amount; as set forth herein. The Courts finds that the antisubrogation rule precludes American Guarantee from bringing any indemnification claim on behalf of Pe lham against Wager Contracting to the extent of such entities' common coverage as relates to liability for Richard Wager's injury. The Court therefore, in addition to denying American Guarantee's cross-motion for summary judgment, gra nts summary judgment in favor of ACE declaring that American Guarantee was and remains responsible for paying the full $5,000,000 limit of the American Guarantee Policy in connection with the state-court settlement. It follows that American Guarantee must pay to ACE $3,500,000 as reimbursement for the share of the Interim Funding Agreement paid by ACE. Clerk to enter judgment. (Signed by Judge Jed S. Rakoff on 7/2/2017) (mro)
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