American Home Assurance Co v. Masters' Ships Management S.A.

FINDINGS OF FACT and CONCLUSIONS OF LAW

KEENAN, District Judge.

INTRODUCTION

This is a maritime insurance action arising out of the grounding of the bulk carrier SATURN II off the western coast of India on June 25, 2002. Plaintiffs are a group of insurers that underwrote hull and machinery (H & M) insurance on the SATURN II. Defendants are the owners and managers of the vessel, respectively. 1 Plaintiffs seek a declaratory judgment that the insurance policies are voidable ab ini-tio because of defendants’ alleged breaches of the duty of utmost good faith, or, alternatively, that they may deny…