Wal-Mart Stores, Inc. v. AIG Life Insurance

On September 8, 2002, the plaintiff below-appellant, Wal-Mart Corporation (‘Wal-Mart”), brought an action in the Court of Chancery. In its amended complaint Wal-Mart asserted legal and equitable claims arising out of insurance policies that Wal-Mart had purchased between 1993 and 1995 from the defendants, who are certain insurance brokers and insurance providers. The Court of Chancery granted the defendants’ motion to dismiss the amended complaint, determining as a matter of law that all of Wal-Mart’s claims had accrued between 1993 and 1995, the period during which the policies were…