Reinsurers Demand Arbitration of Huntsman's Damage Claims

HOUSTON - A group of reinsurers have moved a Texas federal court to compel arbitration of a dispute over whether property damage and time element coverage claims filed by Huntsman Corp. and its captive insurer arise from one or three "occurrences." Arch Reinsurance of Nebraska, et al. v. Huntsman Corp., et al., No. 09-02404 (S.D. Texas).

In a suit filed in the U.S. District Court for the Southern District of Texas, the reinsurers assert that the property damage and time element claims arising from two plant shutdowns and hurricane damage are subject to three separate deductibles and waiting periods.

In …