Insurer Asks Court To Order Reinsurer To Pay Nearly $1.5M In Asbestos Losses

Mealey's (June 13, 2016, 11:11 AM EDT) -- SAN FRANCISCO — An insurer told a federal court in California on June 6 that its reinsurer has refused to pay nearly $1.5 million in asbestos-related reinsurance billings (The American Insurance Company v. R&Q Reinsurance Company, No. 16-cv-03044, N.D. Calif.).

(Complaint available. Document #12-160617-010C.)

The American Insurance Co. (TAIC) sued R&Q Reinsurance Co. in the U.S. District Court for the Northern District of California, seeking damages and declaratory relief in connection with R&Q’s alleged breach of certain reinsurance contracts.

“This action arises from conduct substantially occurring...
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