STORY FROM: Reinsurance & Arbitration

Lamorak, Everest Re Discuss Possible Settlement of Allocation Dispute

BOSTON — Lamorak Insurance Co. and Everest Reinsurance Co. have asked a Massachusetts federal judge to extend scheduling order deadlines in a dispute involving Lamorak’s allocation of asbestos losses to certain reinsurance certificates, maintaining that they may possibly reach a settlement within 30 days.

In an Oct. 17 motion filed in the U.S. District Court for the District of Massachusetts, the parties argued that amending the deadlines “will facilitate the possibility of an efficient resolution” of the dispute.

Lamorak issued Aluminum Company of America (ALCOA) two liability policies that were in effect from 1978 to 1981, and 1981 to 1986, ...

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