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Value Wholesale Inc. v. KB Ins. Co. Ltd.

Insurer Breaching Duty to Defend in Trademark Action Owes Insured $347,800 in Damages

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MEMORANDUM & ORDER   This action concerned the duty of defendant KB Insurance Co., Ltd. (“KBIC”) to defend its insured, Value Wholesale, Inc. (“Value”), in a trademark lawsuit before Judge Carol Bagley Amon: Abbott Laboratories v. Adelphia Supply USA, No. 15-cv-5826 (E.D.N.Y.) (the “Abbott Litigation”). This court previously found, on summary judgment, that KBIC breached its duty to defend Value in the Abbott Litigation. Now pending before the court are the parties’ submissions regarding the proper amount of damages to be awarded to Value. For the reasons set forth below, the court finds that KBIC owes Value $347,800.89 in damages, plus prejudgment interest at a rate of nine percent per annum since April 4, 2018, and postjudgment interest as prescribed by 28 U.S.C. §1961. Background The relevant factual background giving rise to this action was set forth in the court’s March 31, 2020 Memorandum and Order granting Value’s motion for partial summary judgment with respect to KBIC’s liability for its breach of its duty to defend. (See generally ECF No. 57, Memorandum and Order, published as Value Wholesale, Inc. v. KB Ins. Co., 450 F. Supp. 3d 292 (E.D.N.Y. 2020).) The court summarizes that background only briefly here. Value is a pharmaceutical wholesaler. (See ECF No. 1, Complaint (“Compl.”), 9; ECF No. 11, Answer (“Ans.”), 9.) KBIC is a foreign insurance company that operates in the United States through its manager, Leading Insurance Services, Inc., a New Jersey corporation with its headquarters in Ridgefield Park, New Jersey. (ECF No. 32, KBIC Objections to Rule 56.1 Statement,

1-2.) KBIC is licensed to issue insurance policies in the State of New York. (Id.; see also Compl. 16; Ans. 16.) Value purchased a commercial insurance package from KBIC covering the period from February 4, 2014 through February 4, 2015, and renewed the package for the period from February 4, 2015 through February 4, 2016 (the “Policy”). (Compl.

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