Continental Hits Reinsurers with $11.5 Million Lawsuit

KANSAS CITY, Mo. - Continental Casualty Co. has sued two reinsurers in Missouri federal court, demanding a total of $11,536,490 in reinsurance proceeds for an underlying declaratory judgment action brought by a construction company. Continental Casualty Co. v. AXA Global Risks (UK) Ltd., et al., No. 09-00335 (W.D. Mo.).

In its May 1 complaint filed in the U.S. District Court for the Western District of Missouri, CCC alleges that AXA Global Risks (UK) Limited and Assicurazioni Generali UK S.p.A. are each obligated to pay $5,768,245 for adjustment and defense of the underlying claim and defense of the declaratory judgment action, …