STORY FROM: Reinsurance & Arbitration
TIG’s $2 Million Reinsurance Claim Time-Barred, Miscalculated, EIFlow Asserts in Amended Answer
November 19, 2015
CONCORD, N.H. — EIFlow Insurance Ltd. has asserted several affirmative defenses in a $2 million reinsurance action, arguing that TIG Insurance Co.’s claim is time-barred and that the underlying loss does not fall within the coverage terms of the parties’ reinsurance contract.
In its Nov. 17 amended answer filed in the U.S. District Court for the District of New Hampshire, EIFlow further argues that TIG’s claim was incorrectly calculated because it was based upon the wrong percentage of the reinsurer’s participation.
EIFlow also argued that TIG’s claim is barred by laches because TIG “knowingly allowed Icarom to maintain reserves ...
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