Continental, TIG Discuss Settlement of Reinsurance Breach of Contract Action

LOS ANGELES — A California federal judge has ordered Continental Insurance Co. and TIG Insurance Co. to show cause why a reinsurance action should not be dismissed with prejudice, noting they are in the process of settling the dispute.

In a Dec. 16 order, Judge Stanley Blumenfeld Jr. of the U.S. District Court for the Central District of California explained that if the parties file a proposed order to dismiss the case with prejudice by Feb. 12, the order to show cause will be taken off the calendar without further notice.

Otherwise, the parties will appear at a hearing and …