OneBeacon Appeals Ruling Requiring it to Pay Toward $35 Million Asbestos Settlement
January 5, 2021
- Notice of Appeal
NEW YORK – OneBeacon Insurance Co. has asked the 2nd Circuit U.S. Court of Appeals to review a ruling that it is obligated to partially fund Fireman’s Fund Insurance Co.’s $35 million settlement of asbestos claims, plus pay FFIC $2,966,993.31 in prejudgment interest.
On Dec. 30, OneBeacon notified Judge Paul G. Gardephe of the U.S. District Court for the Southern District of New York of its appeal.
FFIC issued three one-year excess umbrella liability policies to ASARCO Inc. OneBeacon's predecessor, General Accident Insurance Company of America, reinsured 15 percent of Policy 3 under a facultative certificate. In May 2001, ASARCO …
- Chaffetz Lindsey
- Gainey McKenna & Egleston
- Prince Lobel Tye