Judge rules insurer can not escape liability based on an assignment of a policy of insurance to an insured's successor in interest
At the conclusion of a bench trial in a declaratory judgment action brought by One Beacon Insurance Company the court awarded damages to the insured totaling $2.5 million. The bench trial followed the Court's denial of the carrier's motion for summary judgment based upon an alleged improper assignment of the insurance policy. One Beacon Insurance Company v. Old Williamsburg Candle Corporation, 386 F.Supp.2d 394. At trial, the Court in awarding damage of $2.5 million, found that the carrier's reduction in the limit of insurance to $1.5 million was ineffectual.