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CONTINENTAL CAS. CO. v. STRONGHOLD INS. CO.

October 26, 1994

CONTINENTAL CASUALTY COMPANY, Plaintiff,
v.
STRONGHOLD INSURANCE COMPANY, LTD., ANDREW WEIR INSURANCE CO., LTD., EXCESS INSURANCE CO., LTD., WORLD AUXILIARY INSURANCE CORP., LTD., RIVER THAMES INSURANCE CO., LTD., ENGLISH AND AMERICAN INSURANCE CO., LTD., MINSTER INSURANCE CO., LTD., BRITISH NATIONAL INSURANCE CO., LTD., ORION INSURANCE CO. PLC, ALBA GENERAL INSURANCE CO., LTD., NATIONWIDE GENERAL INSURANCE CO., NATIONAL CASUALTY CO., ANGLO FRENCH INSURANCE CO., LTD., SWISS UNION GENERAL INSURANCE COMPANY, LTD., LIBERTY MUTUAL INSURANCE COMPANY, and UNDERWRITING SYNDICATES AT LLOYD'S subscribing to policies K66974, K76590, K76591, K76592, K78682, X78683, K78684, K10942, K10943, K14441, and K14439, Defendants.


Sand


The opinion of the court was delivered by: LEONARD B. SAND

SAND, J.

 This breach of contract diversity action arises out of a number of reinsurance policies issued by defendant reinsurers to plaintiff Continental Casualty Company ("Continental"). The parties have settled four of the seven claims that were in dispute in this lawsuit. Defendants now move for summary judgment as to plaintiff's remaining three claims on the ground that they are time barred. For the reasons set forth below, we deny defendants' motion.

 BACKGROUND

 The factual account that follows is derived entirely from the parties' Stipulation of Undisputed Facts Pursuant to Local Civil Rule 3(g) ("Stip.").

 This action arises out of a number of reinsurance policies issued by defendants to plaintiff Continental in respect to insurance policies issued by Continental to members of The New York Hospital Association (the "Association") participating in the Safety Group Dividend Plan. Stip. at 1-2. This suit was commenced on November 14, 1991, when Continental filed its Complaint.

 The Osczapinski Claim

 In April 1985, Continental paid $ 30,500, pursuant to an insurance policy, to settle the claim of Suzanne Osczapinski against the Nassau Hospital Association. Continental thereafter made demand upon the defendants that had reinsured this insurance policy for payment of their shares of the Osczapinski settlement. In August 1990, defendants refused to pay their shares of the Osczapinski settlement, denying any liability pursuant to the reinsurance policy. Id. at 3.

 The Del Molvetto Claim

 In September 1984, pursuant to another insurance policy, Continental paid $ 250,000 to settle the claim of Rachel Del Molvetto against Long Island College Hospital. Continental thereafter made demand upon the defendants that had reinsured this insurance policy for payment of their shares of the Del Molvetto settlement. In October 1989, these defendants refused to pay their shares of the Del Molvetto settlement, denying any liability. Id. at 4.

 The Clark Claim

 In January 1983, pursuant to another insurance policy, Continental paid $ 203,319.20 to settle the claim of Mark Clark against South Nassau Community Hospital. Continental thereafter made demand upon the defendants that had reinsured this insurance policy for payment of their shares of the Clark settlement. In two letters dated February 26, 1987 and October 10, 1989, these defendants refused to pay their share of the Clark settlement, denying any liability. Id. at 5.

 It is undisputed that Continental has performed all conditions of the relevant reinsurance policies, including payment of premiums. Id. at 3, 4, 5. The parties also agree that New York law governs the reinsurance ...


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