STORY FROM: Reinsurance & Arbitration

R&Q Moves to Amend Answer to St. Paul’s Counterclaims for Breach of Contract in Reinsurance Dispute

PHILADELPHIA — R&Q Reinsurance Co. has moved to amend its answer to breach of contract counterclaims asserted by St. Paul Fire & Marine Insurance Co. in a reinsurance dispute, seeking to deny that it agreed to reinsure the excess umbrella policy at issue.

In an Aug. 29 motion filed in the U.S. District Court for the Eastern District of Pennsylvania, R&Q says it also seeks to assert statute of limitations defenses in its amended answer.

R&Q issued two facultative reinsurance certificates to St. Paul in the late 1970s and early 1980s pursuant to a Binding Authority Agreement (BAA). The facultative ...

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