STORY FROM: Reinsurance & Arbitration
TAIC Files Amended Complaint in $1.47 Million Calif. Federal Reinsurance Action
November 8, 2016
SAN FRANCISCO — The American Insurance Co. has filed an amended complaint in California federal court, in which it demands payment of $1.47 million in reinsurance proceeds from R&Q Reinsurance Co. for underlying General Motors Corp. asbestos claims and asserts that the action has sufficient ties to the forum state.
In a Nov. 2 filing in the U.S. District Court for the Northern District of California, TAIC asserts that the issues at the center of the defenses raised by R&Q focus on events that allegedly occurred or failed to occur in California.
TAIC insured GM under several excess liability policies ...
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