STORY FROM: Reinsurance & Arbitration
Calif. Federal Judge to Oversee Settlement Talks in Reinsurance Dispute Between Transport, Associated International
May 20, 2016
LOS ANGELES — A California federal judge will oversee settlement proceedings in an action in which Transport Insurance Co. seeks more than $126,161 in reinsurance proceeds from Associated International Insurance Co. for underlying losses sustained by Transport’s policyholders, including Dynelectron Corp., Mine Safety Appliances Co. and Ingersoll-Rand.
In a May 4 order, the case was referred to Chief Judge George H. King of the U.S. District Court for the Central District of California, who will oversee the settlement discussions.
Transport’s predecessor, Transport Indemnity Co., was reinsured under various facultative reinsurance certificates issued by Associated in the 1970s and early 1980s. ...
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