Continental, Munich Re Settle Dispute Over $4.7 Million in Allocated Loss, DJ Expenses

NEW YORK — Continental Insurance Co. and Munich Reinsurance America Inc. have settled an action in which Continental demanded $4.7 million in allocated loss and declaratory judgment expenses, according to court briefs.

The parties filed a stipulation of voluntary dismissal with prejudice on April 5 in the U.S. District Court for the Southern District of New York.

Continental provided $1 million in primary layer liability coverage to Menasha Corp. from Jan. 1, 1985, through Jan. 1, 1986. The policy included a separate, additional obligation for Continental to defend Menasha against claims potentially within the scope of coverage under the 1985 …