Associated Indemnity Corporation, Cross-Appellee v. The Dow Chemical Company, Cross-Appellant

MILES, Senior District Judge.

An unusual insurance contract provided that Associated Indemnity Corporation (“Fireman’s Fund") 1 would reinstate insurance coverage for the Dow Chemical Company (“Dow”) when Fireman’s Fund’s indemnity payments reached the original limit of coverage under the contract. The contract further provided that the premium for such reinstatement would be determined at the time of reinstatement. The trial judge determined the amount of that reinstatement premium, and both Fireman’s Fund and Dow appeal, Fireman’s Fund arguing that the premium should be higher, and Dow…