STORY FROM: Reinsurance & Arbitration
TransRe Moves to Dismiss Suit Seeking Coverage for 2003 Nicaraguan Plant Fire
March 6, 2019
MIAMI — Transatlantic Reinsurance Co. has moved to dismiss claims asserted against it by the owner of a Nicaraguan plastics factory who is seeking coverage for a 2003 fire that occurred at the plant, arguing he was not a party to the reinsurance contract at issue.
In a motion filed in the U.S. District Court for the Southern District of Florida, Transatlantic further alleges that the reinsurance agreement was not specially drafted to provide for a clear assumption by TransRe of liability to the plaintiff.
Farouk Morales is the owner of a plastic manufacturing plant in Nicaragua, Plasticos de America ...