OneBeacon Objects to Fireman’s Fund Proposed Judgment in N.Y. Reinsurance Case

NEW YORK – OneBeacon Insurance Co. has objected to a cedent’s proposed final judgment in a reinsurance dispute involving a $35 million settlement of asbestos claims filed against a mining company, arguing that prejudgment interest should start 90 days after the invoices are submitted.

In a Nov. 12 letter to Judge Paul G. Gardephe of the U.S. District Court for the Southern District of New York, OneBeacon argues that Fireman’s Fund Insurance Co. has provided no basis for its assertion that prejudgment interest begins 30 days from the date of its invoices.

FFIC issued three one-year excess umbrella liability policies …