Northwestern National Settles Reinsurance Suit Brought by Captive

WASHINGTON, D.C. - Northwestern National Insurance Co. and Whitman Insurance Co. have settled an action in which Whitman sought to limit its reinsurance obligation for the resolution of asbestos claims brought against Abex Corp.

The parties have notified the U.S. District Court for the District of Columbia that they voluntarily dismissed the action with prejudice.

Whitman's parent, IC Industries Inc., obtained a primary comprehensive general liability policy from NNIC. The policy, in effect March 1, 1978, to April 1, 1979, also insured IC Industries' then subsidiary, Abex Corp.

In 1982, Abex brought a coverage suit in the District …