STORY FROM: Reinsurance & Arbitration

Insurers Sue Equitas for $20 Million in Reinsurance Proceeds

CONCORD, N.H. — Two insurers have sued Equitas Insurance Ltd. for breach of contract, seeking more than $20 million in allegedly outstanding reinsurance billings for underlying product liability losses sustained by Mine Safety Appliances Co.

In a Dec. 21 complaint filed in the U.S. District Court for the District of New Hampshire, United States Fire Insurance Co. and North River Insurance Co. also seek a declaration that other London market reinsurers are obligated to pay their respective shares of the billings.

The defendant London market reinsurers are Tenecom Limited, Sompo Holdings Inc. and Berkshire Hathaway Specialty Insurance Co. f/k/a Stonewall ...

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