STORY FROM: Reinsurance & Arbitration
Lexington Sues Tokio Marine for $7.4 Million in Reinsurance Coverage
January 24, 2011
NEW YORK - Lexington Insurance Co. has sued Tokio Marine & Nichido Fire Insurance Company Ltd., seeking $7.4 million in reinsurance coverage for the underlying settlement of Sept. 11 property damage claims filed by The Port Authority of New York and New Jersey. Lexington Insurance Co. v. Tokio Marine & Nichido Fire Insurance Company Ltd., No. 11-391 (S.D. N.Y.).
In a Jan. 19 complaint filed in the U.S. District Court for the Southern District of New York, Lexington also seeks $15,427 in fees and expenses, plus prejudgment interest.
According to the suit, American Home Insurance Co. provided primary coverage to ...