STORY FROM: Reinsurance & Arbitration
Home Liquidator Asserts Claim Against Cerberus Holding Co. in Reinsurance Dispute
January 10, 2018
NEW YORK — The liquidator of The Home Insurance Co. has asserted a claim against third-party defendant Cerberus Holding Company LLC, seeking $224,886 allegedly due under three facultative reinsurance certificates.
In a Jan. 2 filing in the U.S. District Court for the Southern District of New York, New Hampshire Insurance Commissioner Roger Sevigny alleges that pursuant to a reinsurance assumption agreement, Cerberus may be liable for Trygvesta Forsikring A/S’s reinsurance debt to Home.
Beginning in 1964, Home issued policies insuring Eli Lilly & Co., International Telephone and Telegraph Corp. and General Cable Corp.
The policies were reinsured under facultative reinsurance ...
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