Transport Insurance v. TIG Insurance

Opinion

RICHMAN, J.

This appeal involves the esoteric subject of reinsurance. We resolve it on well-known principles of appellate review.

Appellant Transport Insurance Company (Transport) insured AerojetGeneral Corporation (Aerojet) under a liability policy issued in 1973, and that *987same year entered into the three reinsurance contracts pertinent here. Numerous suits were brought against Aerojet, and as early as 1980 it begin submitting claims for property damage to Transport, which it denied based on a policy exclusion. Notwithstanding that denial, Transport began paying some investigative…