Noting $157.2M Asbestos Settlement, Insurer Files Suits Against Reinsurers

Mealey's (June 9, 2022, 12:41 PM EDT) -- Noting that a court recently approved its $157.2 million settlement with the state of Montana regarding alleged asbestos exposures, National Indemnity Co. (NICO) on June 6 filed two suits in Nebraska federal court seeking declaratory judgment against reinsurers it said it had just billed for their portions of the loss; on June 7, NICO moved in Pennsylvania federal court to dismiss or transfer a declaratory judgment suit that one of the reinsurers had filed there over the same issue....