STORY FROM: Reinsurance & Arbitration
TIG, Arrowood Agree to Arbitrate $2 Million Reinsurance Dispute
January 20, 2011
CONCORD, N.H. - TIG Insurance Co. and Arrowood Indemnity Co. have agreed to arbitrate TIG's $2 million claim for reinsurance coverage of an underlying settlement involving a California landfill. TIG Insurance Co. v. Arrowood Indemnity Co., No. 10-00465 (D. N.H.).
On Dec. 29, the parties stipulated to the dismissal of an action filed in the U.S. District Court for the District of New Hampshire, in which TIG accuses Arrowood of breaching its obligations under a facultative reinsurance contract.
According to the complaint, TIG's predecessor, U.S. Fire Insurance Co., issued a policy to Southdown Inc., effective Dec. 1, 1982, to Dec. ...