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Endurance insurance company new york9/4/2023 ![]() Plaintiff claims that defendants' liabilities have been finally adjudicated by an arbitration award, which renders the entire loss noncovered, and that it is not bound by defendants' settlement of the arbitrated dispute without its consent. The parties' coverage dispute does not fall within the narrow arbitration clause of the policy, which provides for arbitration of disputes over the allocation of defense costs (see Gerling Global Reins. Following issuance of the arbitration award, plaintiff disclaimed all obligation to provide coverage, including defense costs, based on the policy's fraud exclusion, which provides that the insurer is not liable for loss related to a securities claim arising from defendants' fraud, "if a final, non-appealable adjudication in any underlying proceeding establishes such a deliberately fraudulent act or omission." Defendants then settled the dispute before the award could be confirmed. That prior arbitration ended with a finding that defendants had committed fraud in connection with that transaction. ![]() ![]() Plaintiff excess insurer sought a stay of an arbitration demanded by defendants to determine plaintiff's obligation to pay litigation costs they incurred in an arbitration brought against them by a nonparty in connection with a corporate acquisition. Reed, J.), entered on or about February 17, 2022, which granted plaintiff's motion for a preliminary injunction staying arbitration and denied defendants' motion to compel arbitration, unanimously affirmed, with costs. Order, Supreme Court, New York County (Robert R. Wilson Elser Moskowitz Edelman & Dicker LLP, New York (Stephen J. Morgan, Lewis & Bockius LLP, New York (Brian A. Rockwood Holdings, Inc., et al., Defendants-Appellants. 2022-00812Įndurance American Insurance Company, Plaintiff-Respondent, ![]() This opinion is uncorrected and subject to revision before publication in the Official Reports.īefore: Acosta, P.J., Kapnick, Mazzarelli, González, Rodriguez, JJ. Published by New York State Law Reporting Bureau pursuant to Judiciary Law § 431. ![]()
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