STORY FROM: Reinsurance & Arbitration

Mass. Federal Judge Extends Deadlines to Allow Possible Settlement of Reinsurance Allocation Dispute

BOSTON — A Massachusetts federal judge has granted a joint request by Lamorak Insurance Co. and Everest Reinsurance Co. to extend scheduling order deadlines in a dispute involving Lamorak’s allocation of asbestos losses to certain reinsurance certificates.

On Oct. 18, Judge Indira Talwani of the the U.S. District Court for the District of Massachusetts ordered that discovery be completed by Nov. 15, and motions filed by Jan. 1. The order was issued in response to the parties' assertions that they may reach a settlement shortly.

Lamorak issued Aluminum Company of America (ALCOA) two liability policies that were in effect from ...

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