G-I Holdings, Inc. v. Reliance Insurance
Court of Appeals for the Third Circuit
1Opinion of the Court
OPINION OF THE COURT
AMBRO, Circuit Judge.
G-I Holdings, Inc. (“G-I”) 1 purchased from Reliance Insurance Company a policy covering claims made against G-I’s directors and officers between July 1999 and July 2002. Shortly after the policy was issued, Reliance encountered financial difficulties. In the summer of 2000, Hartford Fire Insurance Company 2 took over claims administration for Reliance. Hartford also assumed some of Reliance’s liabilities and reinsured other of those liabili ties going forward. To protect itself against Reliance’s impending insolvency, G-I split its initial Reliance…
2Cases cited33 opinions
- Erie Railroad v. TompkinsSupreme Court of the United States · 1938
- New Hampshire v. MaineSupreme Court of the United States · 2001
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- Scarano v. Central R. Co. Of New JerseyCourt of Appeals for the Third Circuit · 1953
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