STORY FROM: Reinsurance & Arbitration
Seaton Voluntarily Dismisses R.I. Action Seeking Enforcement of Reinsurance Settlement Agreements
January 12, 2016
PROVIDENCE, R.I. — Seaton Insurance Co. has voluntarily dismissed without prejudice its lawsuit against Yosemite Insurance Co. in which it sought to enforce prior settlement agreements regarding reinsurance coverage for underlying asbestos and pollution losses.
According to a stipulation filed on Jan. 4 in the U.S. District Court for the District of Rhode Island, Seaton also agreed to dismiss with prejudice a dispute over the recovery of reinsurance sums for underlying environmental claims against Northwest Natural Gas.
Yosemite had issued Seaton's predecessor, Unigard Mutual Insurance Co., eight facultative reinsurance treaties covering excess umbrella liability policies issued to Air Products and ...
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