Search Results for: pennsylvania

Ario as Liquidator of Reliance Ins. Co. v. Underwriting Members of Lloyd’s of London Syndicates.

(Commonwealth Court of Pennsylvania, June 4, 2010)

In this reinsurance action brought by the Liquidator for payment, the parties to a reinsurance contract filed respective motions for summary judgment as to two issues: whether the Liquidator's action is barred by the statute of limitations; and, if not, whether late notice of the claim relieved the defendants, Lloyd's of London Syndicates of any obligation under the reinsurance contract.

In …

Travelers Casualty and Surety Co. v. Insurance Co. of North America

(3^rd Cir. [PA] June 9, 2010)

In a dispute of reinsurance coverage, an insurer reached a $ 137 million settlement with its insured for two sets of claims being brought against it: (1) breast implant claims, relating to safety testing of silicone breast implants; and (2) chemical products claims, relating to chemical products it manufactured including a pesticide commonly known as DBCP.  The insurer then proceeded to allocate those $ 137 million …

PMA Capital Ins. Co. v. Platinum Underwriters Bermuda, LTD

(Eastern District of Pennsylvania, September 17, 2009)

A Reinsurer demanded arbitration, seeking a declaration with respect to calculation of the balance of the Experience Account under the reinsurance contract and that it was entitled to the “benefit deficit carry forward” under a prior contract with a different reinsurer.  The arbitrators awarded the reinsurer $6 million dollars within 30 days and eliminated the deficit carry forward provision in the contract in its entirety.  Finding that the …