STORY FROM: Reinsurance & Arbitration
Continental, Munich Re Settle Dispute Over $4.7 Million in Allocated Loss, DJ Expenses
April 12, 2016
NEW YORK — Continental Insurance Co. and Munich Reinsurance America Inc. have settled an action in which Continental demanded $4.7 million in allocated loss and declaratory judgment expenses, according to court briefs.
The parties filed a stipulation of voluntary dismissal with prejudice on April 5 in the U.S. District Court for the Southern District of New York.
Continental provided $1 million in primary layer liability coverage to Menasha Corp. from Jan. 1, 1985, through Jan. 1, 1986. The policy included a separate, additional obligation for Continental to defend Menasha against claims potentially within the scope of coverage under the 1985 ...
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