STORY FROM: Reinsurance & Arbitration

ACM, Starr Indemnity Reach Settlement on Issue of Punitive Damages in Claims Servicing Dispute

NEW YORK — A settlement has been reached in a New York claims servicing dispute between American Claims Management Inc. and Starr Indemnity & Liability Co., thereby obviating the necessity of a second trial on the issue of punitive damages.

According to an order of discontinuance entered by Judge Jesse M. Furman of the U.S. District Court for the Southern District of New York, the parties entered into a final and binding settlement on Dec. 10.

In January 2010, Starr entered into a claims services agreement with ACM, under which ACM acted as the third-party claims administrator in connection with ...

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