Southern Insurance Company v. Affiliated FM Insura

RHESA HAWKINS BARKSDALE, Circuit Judge.

To paraphrase T.S. Eliot’s “The Hollow Men” (1925), this years-long stare-down between two insurers which covered the same property and risk, but for different insureds, ends not with a blink but Erie guesses. At issue is the extent vel non to which the insurers are liable. In that regard, these cross-appeals from cross-motions for summary judgment present a host of hotly-contested issues concerning the two policies, including loss-valuation, ambiguity, absurd-result, other-insurance, pro rata allocation of loss, and the coverage-limit to be used for one…