Excess Insurance v. Factory Mutual Insurance

Order, Supreme Court, New York County (Karla Moskowitz, J.), entered September 25, 2002, which denied plaintiffs’ motion for partial summary judgment and granted defendant’s cross motion for partial summary judgment, unanimously reversed, on the law, with costs, defendant’s cross motion denied and plaintiffs’ motion granted so as to declare that the portion of the reinsurance agreement between the parties requiring plaintiffs to bear their proportionate share of expenses incurred in the investigation and defense of any claim under the underlying policy is subject to the $7 million limit…