Unigard Security Insurance Company, Inc., as Successor to Unigard Mutual Insurance Company, Inc. v. North River…

Summary

The New York Court of Appeals answered a certified question affirmatively, holding that a reinsurer must demonstrate prejudice before it can invoke the defense of late notice of loss. The Court declined to extend the primary‑insurer "no prejudice" rule to reinsurance contracts, emphasizing the contractual differences and the lack of a condition‑precedent clause.