Seaton Sues Yosemite for $550,000 in Reinsurance Proceeds

PROVIDENCE, R.I. - Seaton Insurance Co. is suing Yosemite Insurance Co. in Rhode Island federal court for $550,000 in reinsurance proceeds for asbestos and pollution losses Seaton says it paid on behalf of numerous corporate policyholders. Seaton Insurance Co. v. Yosemite Insurance Co., No. 08-542 (D. R.I.).

Seaton filed the complaint on Dec. 30 in the U.S. District Court for the District of Rhode Island.

According to the filing, Yosemite issued Seaton's predecessor, Unigard Mutual Insurance Co., eight facultative reinsurance treaties covering excess umbrella liability policies issued by Unigard to Air Products and Chemicals Inc., Champion International Corp., El Paso …