Legal Opinion
Sphere Drake Insurance v. American General Life Insurance
Court of Appeals for the Seventh Circuit
Decided July 16, 2004No. 03-3750PublishedCited by 1 opinion
1Opinion of the Court
TERENCE T. EVANS, Circuit Judge.
This multimillion dollar dispute concerns the validity of a reinsurance contract between All American and Sphere Drake. 1 Sphere Drake argues that its broker, Euro International Underwriting (EIU), lacked either actual or apparent authority to bind Sphere Drake to the reinsurance policy. The company, contends that EIU had the authority to represent Sphere Drake only up to a certain dollar amount, a limit EIU exceeded when it entered the reinsurance contract with All American. Thus, Sphere Drake argues, the policy is void. All American, in contrast, contends…
2Cases cited33 opinions
- Hartford Fire Ins. Co. v. CaliforniaSupreme Court of the United States · 1993
- Gilbert v. Sycamore Municipal HospitalIllinois Supreme Court · 1993
- Ernst v. SearleCalifornia Supreme Court · 1933
- Sphere Drake Insurance Limited, Formerly Known as Odyssey Re (London) Limited v. All American Insurance CompanyCourt of Appeals for the Seventh Circuit · 2001
- John Gould v. Artisoft, IncorporatedCourt of Appeals for the Seventh Circuit · 1993
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3Cited by1 opinion
- Sphere Drake Insurance Limited v. American General Life Insurance CompanyCourt of Appeals for the Seventh Circuit · 2004