Skye Bioscience, Inc. v. Partner Re Ireland Insurance DAC

I. INTRODUCTION

On February 17, 2023, plaintiff Skye Bioscience, Inc. (“Skye”) filed this action against defendant Partner Re Ireland Insurance DAC (“PartnerRe”). Dkt. 1 (‘Compl.”). Skye asserts three claims for relief: (1) breach of contract: (2) tortious breach of the implied covenant of good faith and fair dealing; and (3) declaratory relief. Id. On April 17, 2023, PartnerRe filed a motion to dismiss Skye’s complaint pursuant to Federal Rule of Civil Procedure 12(b)(6). Dkt. 15. On June 20, 2023, the Court denied PartnerRe’s motion to dismiss. Dkt. 21. On July 5, 2023, PartnerRe filed an answer to the complaint and a counterclaim against Skye. Dkt. 22. PartnerRe asserts five claims for relief: (1) declaratory relief— insuring agreement is not triggered; (2) declaratory relief—insuring agreement is not triggered because there is no covered loss under the policy; (3) declaratory relief—no duty to defend: (4) declaratory relief—coverage for the underlying action is barred by Exclusion III.F. and/or California Insurance Code Section 533; and (5) allocation. Id. On July 26, 2023, Skye filed an answer to PartnerRe’s counterclaim. Dkt. 23. On April 25, 2024, Skye filed…