STORY FROM: Reinsurance & Arbitration
Arrowood Demands $363,669 From Program Administrator
October 2, 2008
HARTFORD, Conn. - Arrowood Indemnity Co. has sued its predecessor's former reinsurance program administrator in Connecticut federal court for $363,669 in allegedly uncollected premiums. Arrowood Indemnity Co. v. The Covenant Group Inc., et al., No. 3:08-01392 (D. Conn.).
Arrowood filed the complaint on Sept. 12 in the U.S. District Court for the District of Connecticut against The Covenant Group Inc., Covenant Management LLC and Covenant Insurance Services Inc.
According to the complaint, Arrowood's predecessor, Security Insurance Company of Hartford, entered into a 2005 indemnification agreement with Covenant Insurance Group Inc., under which Covenant "agreed to hold harmless and indemnify ...