American Record Pressing Co. v. United States Fidelity & Guaranty Co.

OPINION

GAGLIARDI, District Judge.

American Record Pressing Co. (“ARP”), a Michigan corporation formerly engaged in the manufacture of records and tapes and a wholly owned subsidiary of Viewlex Corp., commenced this action to recover $1,000,000 under a third party comprehensive liability insurance policy (“CEP policy”) as a result of losses sustained in a fire at its factory in Owosso, Michigan on October 28,1972. The CEP policy was issued by the defendant, the United States Fidelity & Guaranty Co. (“USF&G”), a Maryland corporation. Jurisdiction is premised upon diversity of citizenship, 28…