Fireman’s Fund Sues Everest Re for $2.4 Million in Reinsurance Proceeds

NEW YORK — Fireman’s Fund Insurance Co. has sued Everest Reinsurance Co. for $2.4 million in reinsurance proceeds for underlying asbestos claims brought against ASARCO Inc.

In a Nov. 8 complaint filed in the New York County Supreme Court, Fireman’s Fund contends that through the end of October, it has paid losses and incurred expenses covered under the facultative certificate and provided Fireman’s Fund with a definitive statement of such losses and expenses.

Everest Re’s successor, Prudential Reinsurance Co., issued Fireman’s Fund a facultative reinsurance certificate, effective March 15, 1983, to March 15, 1984, the suit says. The certificate reinsured …