Captive Seeks Declaration of Reinsurance Obligations for Asbestos Settlement

WASHINGTON, D.C. - A captive insurer seeks a declaration limiting its reinsurance obligation to Northwestern National Insurance Co. for the underlying settlement of asbestos claims brought against Abex Corp. Whitman Insurance Company Ltd. v. Northwestern National Insurance Co., No. 11-1205 (D. D.C.).

In a June 29 complaint, Whitman Insurance Company Ltd. also seeks an injunction preventing NNIC from arbitrating or litigating its reinsurance claims in any forum outside the U.S. District Court for the District of Columbia.

According to the suit, Whitman's parent, IC Industries Inc., obtained a primary comprehensive general liability policy from Northwestern National Insurance Co. The policy, …