Legal Opinion
Reliance Group Holdings, Inc. v. National Union Fire Insurance
Appellate Division of the Supreme Court of the State of New York
Decided March 2, 1993PublishedCited by 26 opinions
1Opinion of the Court
OPINION OF THE COURT
Carro, J.
Plaintiff Saul Steinberg is a director and the CEO of plaintiff Reliance Group Holdings, Inc., and together with his family members owns 100% of Reliance’s stock. In 1982, Reliance obtained directors and officers (D&O) liability and indemnity insurance under three separate policies — a primary policy issued by defendant National Union insuring losses to Reliance of up to $20 million arising out of claims against its directors and officers, an excess policy issued by defendant Continental Casualty (also known as CNA) for losses between $20 million and $30 million,…
2Cases cited4 opinions
- Bank of the West v. Superior CourtCalifornia Supreme Court · 1992
- Pepsico, Inc. v. Continental Casualty Co.District Court, S.D. New York · 1986
- Health-Chem Corp. v. National Union Fire Insurance Co. of PittsburghNew York Supreme Court · 1990
- Continental Copper & Steel Industries, Inc. v. JohnsonDistrict Court, S.D. New York · 1980
3Cited by26 opinions
- Level 3 Communications, Inc. v. Federal Insurance CompanyCourt of Appeals for the Seventh Circuit · 2001
- Ameriwood Industries International Corp. v. American Casualty Co. of ReadingDistrict Court, W.D. Michigan · 1993
- Vigilant Insurance v. Credit Suisse First Boston Corp.Appellate Division of the Supreme Court of the State of New York · 2004
- J.P. Morgan Securities Inc. v. Vigilant InsuranceAppellate Division of the Supreme Court of the State of New York · 2011
- Green Leaves Restaurant, Inc. v. 617 H Street AssociatesDistrict of Columbia Court of Appeals · 2009
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