R&Q, Global Re Answer NICO’s 2nd Amended Complaint in Neb. Reinsurance Battle

OMAHA, Neb. — R&Q Reinsurance Co. and Global Reinsurance Corp. have denied National Indemnity Co. (NICO)'s allegations that they breached certain facultative reinsurance certificates by refusing to contribute toward NICO’s settlement of asbestos exposure claims filed against the state of Montana.

In answers filed in the U.S. District Court for the District of Nebraska on Feb. 10, the reinsurers refuted claims in NICO’s second amended complaint for declaratory judgment and breach of contract.

They also asserted various affirmative defenses, asserting that NICO failed to act in a reasonable and businesslike manner in settling the underlying claims, failing to provide …