We previously posted about the yearslong reinsurance dispute between Utica Mutual Insurance Co. (the cedent) and Century Indemnity Co. (the reinsurer), involving Utica’s claims that Century breached two reinsurance...more
1/31/2020
/ Allocation Statistics ,
Asbestos ,
Asbestos Litigation ,
Bad Faith ,
Breach of Contract ,
Contract Terms ,
Follow-the-Fortunes Clause ,
Insurance Litigation ,
Prejudgment Interest ,
Recordkeeping Requirements ,
Reinsurance ,
Reinsurance Agreements ,
Settlement
In a reinsurance coverage dispute involving coverage for an underlying settlement of asbestos liability, a New York court considered whether the defenses of failure to provide prompt notice and failure to provide satisfactory...more
On April 8, 2014, we reported on National Indemnity Company’s (“NICO”) attempt in a Nebraska federal district court to enjoin Transatlantic Reinsurance Company from commencing arbitration against NICO in Chicago and New York...more
The case involved two facultative reinsurance contracts, each of which covered excess liability for similar umbrella liability insurance policies, and each of which contained a “follow the settlements” provision. After the...more