CNA, SCOR Agree To Stay Dispute Pending Settlement Talks

CHICAGO - Pending settlement talks, CNA and SCOR Reinsurance Co. have jointly moved for a stay of their dispute over whether a 2006 commutation terminated certain facultative contracts between the parties. Continental Casualty Co., et al. v. Commercial Risk Re-Insurance Co., No. 1:07-cv-06912 (N.D. Ill.).

According to the Aug. 22 motion, the parties are currently engaged in detailed settlement discussions under the oversight of Magistrate Judge Arlander Keys of the U.S. District Court for the Northern District of Illinois.

CNA filed this declaratory judgment action against SCOR in December, seeking $1.7 million under facultative reinsurance contracts issued by Allstate Insurance …