STORY FROM: Reinsurance & Arbitration
Reinsurance Coverage Dispute Over Olin Settlement to Remain in Mass. Federal Court
March 14, 2019
BOSTON — A Massachusetts federal judge has refused to abstain from hearing an action in which certain London reinsurers seek a ruling that they are not required to reimburse Lamorak Insurance Co. for its settlement of pollution claims asserted against Olin Corp.
On March 8, Judge Nathaniel M. Groton of the U.S. District Court for the District of Massachusetts adopted a report and recommendation in which Magistrate Judge M. Page Kelley found the action is not sufficiently “parallel” with a related state court case to warrant abstention.
Lamorak issued three umbrella policies to chemical manufacturer Olin Corp. in the 1970s. ...
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