Parties Agree to Dismissal of $1.7 Million Reinsurance Action

OMAHA, Neb. — A Nebraska federal judge has dismissed an action in which National Indemnity Co. accused two reinsurers of breaching a reinsurance certificate by refusing to pay toward a $157.2 million settlement of asbestos claims against the state of Montana.

In a March 4 order, Judge Brian C. Buescher of the U.S. District Court for the District of Nebraska granted the parties’ joint stipulation of dismissal.

Plaintiff National Indemnity Co. alleged that Viad Corp. and Allianz Global Risks U.S. Insurance Co. owe a total of $1,734,335 under the reinsurance certificates, yet refused to pay the billed amounts.

NICO insured …