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.
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