Reinsurer Refused Payment For $11.6M Asbestos Losses Buyout, Excess Insurers Say

(July 14, 2020, 10:28 AM EDT) -- SAN FRANCISCO — Two excess insurers on July 13 sued their reinsurer in a California federal court for breach of contract in refusing to pay toward the reinsurer’s share of a more than $11.6 million confidential buyout agreement regarding an insured’s asbestos liabilities (New Hampshire Insurance Company, et al. v. TIG Insurance Company, No. 20-04668, N.D. Calif.)....