Opinion ID: 808087
Heading Depth: 1
Heading Rank: 5

Heading: Whether Genuine Issues of Material Fact Remain

Text: Finally, PEIC argues that even if New York law applies, there are genuine issues of material fact that nonetheless preclude summary judgment. We disagree. First, we fail to see how, as PEIC suggests, Global possibly waived its right to avoid coverage based on any noncompliance with Paragraph D. According to PEIC, Global had actual and constructive knowledge of the facts it needed to make its DSOL argument by April 2008, but did nothing until October 2009, when it first asserted defenses to coverage and did not even mention late notice or the DSOL. Even if this were true, however, Paragraph L of the Certificate provides that ―[t]he terms of this Certificate of Reinsurance shall not be waived or changed except by endorsement issued to form a part hereof, executed by a duly authorized representative of the Reinsurer.‖ PEIC does not suggest that such a formal endorsement occurred here or that this provision of the Certificate is somehow unenforceable. In fact, it does not mention this provision of the Certificate at all. Although it faults Global for ―relying on a non-existent district court finding that PEIC breached the DSOL provision‖ and asserts that the question of ―whether [the DSOL] was breached‖ precludes summary judgment, see PEIC Br. at 45-47, PEIC does not seriously suggest that, if we adopt the District Court‘s interpretation of Paragraph D (as we do), it promptly provided Global with a DSOL. Recall that Buffalo Forge gave PEIC notice of asbestos-related claims and lawsuits in April 2001. According to PEIC, beginning in October 2005 it asked its broker to keep all its reinsurers informed about the developments in the Buffalo 44 Forge matter throughout PEIC‘s handling of the claim, but it appears that the broker did not pass the reports on to Global. According to Global, PEIC first told it about Buffalo Forge in April 2008. Even under PEIC‘s best case scenario, it would not have provided a DSOL until four years after Buffalo Forge notified it of claims or occurrences involving deaths, serious injuries and lawsuits. PEIC points us to no authority that suggests such a lengthy delay was ―prompt.‖