TIG Drops N.Y. Action Demanding Reinsurance for Underlying Asbestos Injury Claims

NEW YORK — TIG Insurance Co. has voluntarily dismissed its New York federal reinsurance action against two reinsurers, in which it sought a total of $322,355 for loss and defense expense payments for underlying asbestos injury claims filed against Hercules Inc. and Weil-McClain Co. (W-M).

According to a March 13 notice filed in the U.S. District Court for the Southern District of New York, TIG dismissed the case against R&Q Reinsurance Co. and Global Reinsurance Corp. without prejudice.

According to the complaint, TIG issued liability policies to Hercules and W-M. In turn, R&Q’s predecessor, INA Reinsurance and Insurance Company of …