A New York appellate court held that a no transfer provision in an asset purchase agreement does not preclude the transfer of insurance coverage to a successor company for pre-merger product liability claims. Arrowood Indem. Co. v. Atlantic Mutual Ins. Co., 2012 WL 2428344 (N.Y. App. Div. 1st Dep’t June 28, 2012). The court reasoned that although insurers have an interest in protecting themselves against liabilities that they did not agree to insure, “once the insured against loss has occurred, there is no issue of an insurer having to insure against additional risk.” The court rejected the insurer’s contention that because the underlying suits were not brought until after the asset purchase, no “chose in action” existed that could have been assigned to the acquiring company.