Reliance Liquidator's Suit Against Syndicates is Timely, Judge Rules

PHILADELPHIA - A suit filed by the liquidator of Reliance against two Lloyd's of London syndicates is not time-barred because the cause of action accrued in 2008, when the syndicates received notice of the reinsurance claims, a Pennsylvania state judge has ruled. Ario v. Lloyd's Syndicates, No. 553 M.D. 2008 (Pa. Comm. Ct., Phila. Cty.).

On June 4, Judge Bonnie B. Leadbetter of the Philadelphia Court of Common Pleas further ruled that an issue of fact exists as to when Reliance was obligated to provide the syndicates notice of its reinsurance claim.

In 1998, Reliance Insurance Co. issued a commercial …