STORY FROM: Reinsurance & Arbitration

Former Captive Brings $88.5M Suit Against ITT Industries

PHILADELPHIA - In an $85.5 million action, ITT Industries Inc.'s former captive reinsurer is accusing the corporation of reneging on a promise to indemnify it for asbestos and silica losses arising from a domestic casualty insurance program and of keeping the reinsurer "in the dark for years" about massive impending losses. Fencourt Reinsurance Company Ltd. v. ITT Industries Inc., No. 06-CV-04786, E.D. Pa.).

The May 2 amended complaint is pending in the U.S. District Court for the Eastern District of Pennsylvania.

ITT is a conglomerate of numerous manufacturing companies spread throughout the United States and the world. From 1978 through ...

Associated Documents

Registered User Login



Related Conferences

No conferences scheduled at this time.

Full Archives