STORY FROM: Reinsurance & Arbitration
Appalachian Agrees to Pay TIG Sums Relating to Reinsurance Arbitration Award
October 20, 2017
ATLANTA — A Georgia federal judge has approved a forbearance agreement between Appalachian Reinsurance (Bermuda) Ltd. and its cedent, TIG Insurance Co., pursuant to which Appalachian has agreed to pay TIG sums due under a reinsurance arbitration award.
In an Oct. 17 order, Judge Amy Totenberg of the U.S. District Court for the Northern District of Georgia explained that if Appalachian timely pays the settlement amount to TIG, TIG will dismiss with prejudice its claims seeking to enforce the arbitration award.
TIG is the successor to American Safety Indemnity Co., a specialty insurance company focused on the construction business.
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