OneBeacon Insurance Co. Settles Reinsurance Dispute Over ‘Wrongful Acts’ Coverage

TAMPA, Fla. — Public Risk Management of Florida has settled its lawsuit accusing OneBeacon Insurance Co. of breaching a reinsurance contract that covered a public officials’ errors and omissions policy issued to a Florida city.

On Sept. 4, Judge Gregory Presnell of the U.S. District Court for the Middle District of Florida dismissed the action after receiving the parties’ settlement notice.

PRM issued E&O coverage to the City of Winter Garden, Fla., and OneBeacon reinsured this policy. The policy insured Winter Garden against damages caused by wrongful acts by Winter Garden's public officials. “Wrongful acts” are defined as “any …