R&Q, Sentry Settle $4.5 Million Reinsurance Action Involving Asbestos, Fire Losses

CHICAGO — R&Q Reinsurance Co. and Sentry Insurance Co. have settled a $4.5 million reinsurance dispute over coverage for underlying asbestos- and fire-related losses, according to a recent court filing.

According to a March 31 stipulation of dismissal filed in the U.S. District Court for the Northern District of Illinois, the parties resolved the case, in which R&Q asserted that it is not liable to Sentry under a reinsurance certificate due to Sentry’s late notice of the underlying claims.

According to the December 2012 complaint, R&Q’s predecessor, INA Reinsurance Co., issued Sentry a facultative certificate effective Jan. 1, 1978, to …