Parties Reach Settlement in Massachusetts ‘Access to Records’ Reinsurance Dispute

BOSTON — The parties in a dispute over whether an “access to records” provision in a reinsurance contract constitutes a pre-condition to the reinsurer’s obligation to pay asbestos-related reinsurance claims have reached a settlement, according to recent court filings.

In a June 2 filing in the U.S. District Court for the District of Massachusetts, Nationwide Mutual Insurance Co. and Liberty Mutual Insurance Co. stipulated to dismissal of the action with prejudice, noting that it “will not affect any existing or future right of any party to file or oppose any application to confirm or vacate any arbitration award issued in …