Brandwein

I

INTRODUCTION

This action was brought by plaintiffs Howard J. Brandwein (Brandwein), a related trust, and Jeri Geblin (Geblin) (collectively, plaintiffs) to recover losses allegedly suffered as a result of unsuccessful efforts to salvage Brandwein’s 65-foot yacht, the Sea Bear, which ran aground in April 2007 on a Mexican beach. The insurer of the Sea Bear, ACE Global Markets, Ltd., et al. (the Underwriters), paid Brandwein the full amount of the insurance policy proceeds, $1.54 million, after the loss of the vessel. Brandwein, however, claimed losses in excess of that amount, contending that the vessel had been underinsured because the value of upgrades had not been taken into account, and also that he suffered emotional distress as a result of the sinking of his yacht and loss of personal effects during the salvage operation. Plaintiffs brought an action to recover damages from multiple parties, including the Underwriters, Oversea Brokers, who procured the insurance from the Underwriters, and Western Maritime, the entity whose attempted salvage operation resulted in the total loss of the Sea Bear.

As a result of pretrial rulings, all the claims against the…