Utica Mutual Demands $2.7 Million from Munich Re for Goulds Pumps Settlement

UTICA, N.Y. — Utica Mutual Insurance Co. has sued Munich Reinsurance America Inc. in New York federal court, demanding more than $2.7 million in reinsurance coverage for the settlement of asbestos exposure injury claims filed against Goulds Pumps Inc.

In a July 22 complaint filed in the U.S. District Court for the Northern District of New York, Utica says Munich owes it a duty of utmost good faith, and that the reinsurer’s obligations are governed by the follow-the-fortunes and follow-the-settlement doctrines.

According to the lawsuit, Utica insured Goulds Pumps Inc. under various primary and umbrella policies, including coverage beginning …