STORY FROM: Reinsurance & Arbitration
R&Q Disclaims Liability for $1.5 Million Reinsurance Billing, Says Notice of Claims Not Timely
April 13, 2016
CHICAGO — R&Q Reinsurance Co. has asked an Illinois federal court to rule that it is not liable to pay a $1.5 million billing submitted by The American Insurance Co. because American breached the reinsurance certificates by failing to provide R&Q with timely notice of the asbestos claims giving rise to the billing.
In an April 11 complaint filed in the U.S. District Court for the Northern District of Illinois, R&Q says American was aware of the claims filed against its insured, The General Motors Corp., as early as December 2011, but did not notify R&Q until February 2013.
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