STORY FROM: Reinsurance & Arbitration
Home Liquidator Sues Danish Reinsurer for $224,886 in Facultative Proceeds in N.Y. Federal Court
June 29, 2016
NEW YORK — The liquidator of The Home Insurance Co. has sued a Danish reinsurer in New York federal court, accusing it of failing to pay $224,886.13 in reinsurance proceeds due under three facultative reinsurance certificates.
In a June 23 complaint filed in the U.S. District Court for the Southern District of New York, New Hampshire insurance commissioner Roger A. Sevigny accuses Trygvesta of Forsikring A/S of breaching the facultative certificates, which were issued by its predecessor in the 1960s.
According to the complaint, Tryg’s predecessor, Skandinavia Insurance Company Ltd., as a member of the Agency Managers Limited Reinsurance Pool, ...
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