Brandwein

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),1 paid Brandwein the full amount of

the insurance policy proceeds, $1,540,000, 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

1 "The Underwriters" refers to the following party defendants, collectively: ACE Global Markets, Ltd. Syndicate 2488 (which the Underwriters contend was erroneously sued as ACE Underwriting Managing Agencies Limited Syndicate 2488); Axis Specialty Europe Limited, Ireland, UK Branch (erroneously sued as Axis Specialty Europe Limited, UK Branch); and G.S. Christensen and Others…