TIG, Carnforth Denied Summary Judgment in $1.2 Million Action

CHICAGO - An Illinois federal judge has denied TIG Insurance Co.'s and Carnforth Ltd.'s motions for summary judgment in a $1.2 million reinsurance recovery action involving underlying chemical exposure claims brought against the predecessor of Mosaic Global Holdings Inc. TIG Insurance Co. v. Carnforth Ltd., No. 08 C 3618 (N.D. Ill.).

Judge Charles R. Norgle of the U.S. District Court for the Northern District of Illinois found questions of fact as to whether a 2007 settlement agreement and release relieved Mosaic of any obligation to indemnify Carnforth for the chemical exposure claims.

In 1980, TIG's predecessor, International Insurance Co., issued …