Fireman’s Fund, OneBeacon, Battle Over Allocation Issue in $1.7 Million Reinsurance Dispute

NEW YORK — Fireman’s Fund Insurance Co. has filed a renewed motion for summary judgment in its action seeking $1.7 million in reinsurance proceeds from OneBeacon Insurance Co. for its settlement of underlying asbestos claims, arguing that its allocation to the underlying policies was proper.

In its May 19 motion filed in the U.S. District Court for the Southern District of New York, FFIC asserts that the follow-the-settlements doctrine obligates OneBeacon to pay the billing and that the allocation was in accord with the policies’ exhaustion requirement.

In its cross-motion for summary judgment filed the same day, OneBeacon contends that …