Legal Opinion
Travelers Casualty & Surety Co. v. Certain Underwriters at Lloyd's of London
New York Court of Appeals
Decided October 16, 2001PublishedCited by 42 opinions
1Opinion of the Court
OPINION OF THE COURT
Graffeo, J.
These appeals present a common issue of contract interpretation: whether losses from environmental injury claims involving decades of commercial activities at numerous industrial and waste disposal sites may properly be aggregated as a single “disaster and/or casualty” under certain reinsurance treaties. We conclude, under the facts and reinsurance contracts at issue, that the aggregation of these losses is beyond the scope of the applicable treaties.
We begin with a general explanation of the purpose and structure of reinsurance. As we described in Matter of…
2Cases cited7 opinions
- Koppers Company, Inc. v. The Aetna Casualty and Surety Company Zurich Insurance Company the Travelers Indemnity Co. The American Home Assurance Company Commercial Union Insurance Company the Home Insurance Company Underwriter's at Lloyd's of London. Certain Underwriters at Lloyd's, London Certain Insurance Companies in the London Market, Referred to in This Action as "Jackson and Companies", ( Pursuant to Rule 12(a), f.r.a.p.) in No. 95-3432. Koppers Company, Inc. v. The Aetna Casualty and Surety Company Zurich Insurance Company the Travelers Indemnity Co. The American Home Assurance Company Commercial Union Insurance Company the Home Insurance Company Underwriters's at Lloyd's of London Certain Insurance Companies in the London Market, Referred to in This Action as "Jackson and Companies." ( Pursuant to Rule 12(a), f.r.a.p.) Koppers Company, Inc., in No. 95-3461Court of Appeals for the Third Circuit · 1996
- Northville Industries Corp. v. National Union Fire InsuranceNew York Court of Appeals · 1997
- American Bankers Insurance v. Northwestern National InsuranceCourt of Appeals for the Eleventh Circuit · 1999
- Michigan National Bank-Oakland v. American Centennial InsuranceNew York Court of Appeals · 1996
- Kemper Reinsurance Co. v. CorcoranNew York Court of Appeals · 1992
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3Cited by42 opinions
- New York Marine & General Insurance v. Lafarge North America, Inc.Court of Appeals for the Second Circuit · 2010
- (TAN) WORLD TRADE CENTER PROPERTIES, L.L.C., SILVERSTEIN PROPERTIES, INC., SILVERSTEIN WTC MANAGEMENT CO., L.L.C., 1 WORLD TRADE CENTER, L.L.C., 2 WORLD TRADE CENTER, L.L.C., 4 WORLD TRADE CENTER, L.L.C., 5 WORLD TRADE CENTER, L.L.C., WESTFIELD WTC, L.L.C., WESTFIELD CORPORATION, INC., WESTFIELD AMERICA, INC., AND THE PORT AUTHORITY OF NEW YORK AND NEW JERSEY, DEFENDANTS-COUNTER-CLAIMANTS-COUNTER-DEFENDANTS-APPELLANTS-CROSS-APPELLEES, UBS WARBURG REAL ESTATE INVESTMENTS INC., WELLS FARGO BANK MINNESOTA, N.A., AS TRUSTEE FOR THE REGISTERED HOLDERS OF GMAC COMMERCIAL MORTGAGE SECURITIES, INC. MORTGAGE-BACKED PASS-THROUGH CERTIFICATES, SERIES 2001-WTC, AND GMAC COMMERCIAL MORTGAGE CORPORATION, DEFENDANTS-COUNTER-CLAIMANTS-COUNTER-DEFENDANTS-CROSS-APPELLEES v. HARTFORD FIRE INSURANCE COMPANY AND ROYAL INDEMNITY COMPANY, COUNTER-DEFENDANTS-APPELLEES, ST. PAUL FIRE & MARINE INSURANCE CO., COUNTER-DEFENDANT-APPELLEE-CROSS-APPELLANT, SR INTERNATIONAL BUSINESS INSURANCE CO., LTD., PLAINTIFF-COUNTER-DEFENDANT-INTERVENOR, ALLIANZ INSURANCE COMPANY, COPENHAGEN REINSURANCE CO., EMPLOYERS INSURANCE OF WAUSAU, FEDERAL INSURANCE COMPANY, GREAT LAKES REINSURANCE (UK) PLC., GULF INSURANCE COMPANY, HOUSTON CASUALTY CO., INDUSTRIAL RISK INSURERS, LEXINGTON INSURANCE CO., CERTAIN UNDERWRITERS AT LLOYD'S OF LONDON, QBE INTERNATIONAL INSURANCE LIMITED, SWISS REINSURANCE CO. UK LTD., TIG INSURANCE CO., TOKIO MARINE AND FIRE INSURANCE CO., TRAVELERS INDEMNITY COMPANY, TWIN CITY FIRE INSURANCE CO., WÜRTTEMBERGISCHE VERSICHERUNG AG AND ZURICH AMERICAN INSURANCE CO., COUNTER-DEFENDANTS. SR INTERNATIONAL BUSINESS INSURANCE CO., LTD., PLAINTIFF-COUNTER-DEFENDANT, WORLD TRADE CENTER PROPERTIES, L.L.C., SILVERSTEIN PROPERTIES, INC., SILVERSTEIN WTC MANAGEMENT CO. L.L.C., 1 WORLD TRADE CENTER, L.L.C., 2 WORLD TRADE CENTER, L.L.C., 4 WORLD TRADE CENTER, L.L.C., 5 WORLD TRADE CENTER, L.L.C., WESTFIELD WTC, L.L.C., WESTFIELD CORPORATION, INC., WESTFIELD AMERICA, INC., AND THE PORT AUTHORITY OF NEW YORK AND NEW JERSEY, DEFENDANTS-COUNTER-CLAIMANTS-APPELLANTS, UBS WARBURG REAL ESTATE INVESTMENTS INC., WELLS FARGO BANK MINNESOTA, N.A., AS TRUSTEE FOR THE REGISTERED HOLDERS OF GMAC COMMERCIAL MORTGAGE SECURITIES, INC. MORTGAGE-BACKED PASS-THROUGH CERTIFICATES, SERIES 2001-WTC, AND GMAC COMMERCIAL MORTGAGE CORPORATION, DEFENDANTS-COUNTER-CLAIMANTS v. THE TRAVELERS INDEMNITY COMPANY, COUNTER-DEFENDANT-APPELLEE, ALLIANZ INSURANCE COMPANY, COPENHAGEN REINSURANCE CO., EMPLOYERS INSURANCE OF WAUSAU, FEDERAL INSURANCE COMPANY, GREAT LAKES REINSURANCE (UK) PLC, GULF INSURANCE COMPANY, HARTFORD FIRE INSURANCE COMPANY, HOUSTON CASUALTY CO., INDUSTRIAL RISK INSURERS, LEXINGTON INSURANCE CO., CERTAIN UNDERWRITERS AT LLOYD'S OF LONDON, QBE INTERNATIONAL INSURANCE LIMITED, ROYAL INDEMNITY COMPANY, ST. PAUL FIRE & MARINE INSURANCE COMPANY, SWISS REINSURANCE CO. UK LTD., TIG INSURANCE CO., TOKIO MARINE AND FIRE INSURANCE CO., TWIN CITY FIRE INSURANCE CO., WÜRTTEMBERGISCHE VERSICHERUNG AG, AND ZURICH AMERICAN INSURANCE CO., COUNTER-DEFENDANTSCourt of Appeals for the Second Circuit · 2003
- Excess Insurance v. Factory Mutual InsuranceNew York Court of Appeals · 2004
- Global Reinsurance Corp. of Am. v. Century Indem. Co.Court for the Trial of Impeachments and Correction of Errors · 2017
- Zurich American Insurance Co. v. Abm Industries, Inc.Court of Appeals for the Second Circuit · 2005
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