Appalachian Insurance Seeks $2 Million for Union Carbide Settlement

PHILADELPHIA - A cedent has sued Insurance Company of North America for more than $2 million in reinsurance proceeds for the underlying settlement of asbestos claims brought against Union Carbide Corp. Appalachian Insurance Co. v. Insurance Company of North America, No. 10-7614 (E.D. Pa.).

In a Dec. 30 complaint, filed in the U.S. District Court for the Eastern District of Pennsylvania, Appalachian Insurance Co. asserts that INA is obligated to follow the settlements under the terms of a facultative reinsurance certificate. The case has been assigned to Judge Ronald L. Buckwalter.

According to the suit, INA issued a facultative certificate …