Eppes v. Snowden

MEMORANDUM OPINION

WILHOIT, District Judge.

This declaratory judgment action was commenced by a group of insurance underwriters, associated with Lloyds of London, against their insureds, H.E. Snowden and L.P. Doherty. The defendants owned an undivided one-half interest in a thoroughbred stallion named PELERIN. The horse was covered by policies of mortality insurance. PELERIN met an untimely death on March 25, 1984. The plaintiffs contend (1) that the actual cash value of the horse, at the time of death, was less than the $1,450,000.00, coverage, and (2) that the horse died of “poison” that was…