Ario v. Underwriting Members of Lloyd's of London Syndicates 33, 205 & 506

OPINION BY

President Judge LEADBETTER.

In this action by the Liquidator for payment pursuant to a contract of reinsurance, the parties have filed cross-motions for summary judgment raising two issues: (1) whether the Liquidator’s action is barred by the statute of limitations; and, if not, (2) whether late notice of the claim relieved the defendants, Lloyd’s of London Syndicates 38 and 205 (Syndicates) of any obligation under the reinsurance contract. 1

In 1998, Reliance Insurance Company, acting through the New York office of broker, J & H Marsh & McLennan, Inc. (Marsh), issued a commercial…