STORY FROM: Reinsurance & Arbitration
TAIC, R&Q to Settle $1.47 Million Disputes Pending in Calif., Ill. Federal Courts
January 13, 2017
SAN FRANCISCO — The American Insurance Co. and R&Q Reinsurance Co. say they are in the process of settling two federal lawsuits pending in California and Illinois which involve $1.47 million in reinsurance proceeds allegedly owed by R&Q to TAIC for underlying General Motors Corp. asbestos claims.
A Jan. 11 letter authored by TAIC’s counsel notified the U.S. District Court for the Northern District of California the parties are working on a confidential settlement agreement and release.
TAIC insured GM under several excess liability policies in effect from October 1976 through September 1985. Those policies were allegedly reinsured under ...
Associated Law Firms
Segal McCambridge Singer & Mahoney
Letter, Order, Notification