National Indemnity Obtains $867,586 Default Judgment Against Brazilian Reinsurer

OMAHA, Neb. — A Nebraska federal judge has issued an $867,586 default judgment against IRB Brasil Re in an action in which National Indemnity Co. sought to recoup from IRB a portion of its $157.2 million settlement of asbestos claims filed against the state of Montana.

In an April 9 order denying IRB’s motion for reconsideration, Judge Brian Buescher of the U.S. District Court for the District of Nebraska also awarded NICO $12,115 in attorneys’ fees, plus pre- and post-judgment interest.

NICO insured the state of Montana under a policy effective July 1, 1973, to July 1, 1975. The …