Regions Financial Corporation, a Successor to Union Planters Corporation And Subsidiaries v. Marsh Usa, Inc., et al.

On appeal, Regions Financial Corporation (“Regions”) asserts numerous reasons why the doctrines of res judicata and collateral estoppel should not bar its claim against the Defendants National Union Fire Insurance Company of Pittsburgh, Pa. (“National Union”) St. Paul Mercury Insurance Company (“St. Paul”), and Twin City Fire Insurance Company (“Twin City”) (collectively “Defendant Excess Insurers”). Regions originally sued Defendants in federal court seeking indemnification pursuant to its insurance contract, and the District Court granted Defendants summary judgment because Regions failed to give simultaneous notice. Regions has now sued Defendant Excess Insurers in circuit court for breach of the same insurance contract. Regions claims that during the federal court appeal it discovered new evidence that it had given simultaneous notice to Defendant Excess Insurers through their agent. Regions claims, however, that it could not have discovered this evidence earlier because Defendant Excess Insurers concealed the agency relationship. The trial court granted Defendant Excess Insurers’ motions for summary judgment on the basis of res judicata. We affirm.