Covenant and Arrowood Settle Battle Over Reinsurance Premiums

HARTFORD, Conn. - A reinsurance program administrator and Arrowood Indemnity Co. on Feb. 23 agreed to settle their dispute over $363,669 in alleged unpaid premiums. Arrowood Indemnity Co. v. The Covenant Group Inc., et al., No. 3:08-01392 (D. Conn.).

Arrowood filed the lawsuit against the Covenant Group Inc. in the U.S. District Court for the District of Connecticut, demanding $363,669 in premiums that were allegedly collected by Covenant but never remitted to Arrowood. Arrowood alleged that as of March 18, 2008, there was a $363,669 difference between the amount of premium written and the premiums collected by Covenant.

The …