NICO Sues More Reinsurers for Contribution Toward Mont. Libby Mine Settlement

OMAHA, Neb. — National Indemnity Co. has sued two reinsurers in Nebraska federal court, accusing them of breaching a reinsurance certificate by refusing to pay toward a $157.2 million settlement of asbestos claims levied against the State of Montana.

In a July 27 complaint filed in the U.S. District Court for the District of Nebraska, NICO says Allianz Global Risks U.S. Insurance Co. and Viad Corp. owe a total of $1,734,335 under the reinsurance certificates, yet have refused to pay the billed amounts.

According to the complaint, NICO insured Montana under a policy effective July 1, 1973 to July 1, …