STORY FROM: Reinsurance & Arbitration

Insurer Drops Lawsuit Accusing Reinsurers of Refusing to Pay Asbestos Claims

SAN FRANCISCO — Insurance Company of the State of Pennsylvania has dropped its lawsuit accusing two reinsurers of refusing to pay their share of a settlement of asbestos claims filed against C.F. Braun & Co.

According to a May 20 notice filed in the U.S. District Court for the Northern District of California, ICSOP voluntarily dismissed without prejudice its claims that Transport Insurance Co. and R&Q Reinsurance Co. breached a series of facultative reinsurance treaties issued to ICSOP in the 1970s.

According to the complaint filed on March 25, ISCOP issued several excess liability insurance coverage policies to Braun between ...

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Notice of Voluntary Dismissal

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