Complaint Says Reinsurer Owes $500,000 for Underlying Asbestos Claims

BOSTON -- Two insurance companies have filed a declaratory action against a reinsurer, claiming the company owes them more than $500,000 for reinsurance of underlying asbestos claims. Stonewall Insurance Co., et al. v. Odyssey America Reinsurance Corp., et al., No. 05-12529 (D. Mass.).

The Dec. 15 declaratory action was filed in the U.S. District Court for the District of Massachusetts.

Plaintiffs Stonewall Insurance Co. and Seaton Insurance Co. contend that defendant Odyssey America Reinsurance owes more than $500,000 as a result of 'facultative reinsurance certificates on insurance policies.'

The complaint says that Odyssey was involved with reinsurance of insurance policies …