Republic, Transatlantic, Agree to Arbitrate $35 Million Dispute

NEW YORK - Republic Indemnity Co. and Transatlantic Reinsurance Co. have agreed to arbitrate their dispute over reinsurance coverage for an underlying $35 million settlement of asbestos claims brought against Thorpe Insulation Co. Republic Indemnity Co. v. Transatlantic Reinsurance Co., No. 09-8871 (S.D. N.Y.).

Republic voluntarily dismissed its lawsuit, filed in October in the U.S. District Court for the Southern District of New York, after the parties sought entry of a tolling agreement.

From the late 1940s to the 1970s, Thorpe distributed asbestos-containing products manufactured by Johns Manville. Since the 1970s, Thorpe has been hit with claims arising from …