STORY FROM: Reinsurance & Arbitration
Amerisure Sues Transatlantic Re for $935,574, Citing Underlying Asbestos Settlement
August 6, 2018
DETROIT — Amerisure Mutual Insurance Co. has sued a reinsurer in Michigan federal court for more than $900,000 in loss and loss expense for its settlement of underlying asbestos claims asserted against its insured.
In a June 21 complaint filed in the U.S. District Court for the Eastern District of Michigan, Amerisure maintains that Transatlantic Reinsurance Co. is obligated to reimburse it for TransRe’s portion of loss expenses in addition to loss payments, and the loss payments are the only payments to which the limits apply.
However, in a July 30 answer, TransRe has denied Amerisure’s claims, maintaining that ...
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