TIG Sues R&Q For $872,498 in Reinsurance for Underlying Asbestos Injury Claims

NEW YORK — TIG has sued R&Q Reinsurance Co. and its parent company for $872,498 in reinsurance for sums TIG paid to its insured, White Consolidated Industries Inc., for asbestos-related personal injury claims.

In the Sept. 4 complaint filed in the U.S. District Court for the Southern District of New York, TIG contends that the reinsurers may not set off balances owed under the reinsurance certificates for sums allegedly owed by TIG under an entirely different book of business.

TIG issued several umbrella liability policies to White Consolidated Industries Inc. that remained in force between Jan. 1, 1980, through Jan. …