FIRM FILES LAWSUIT ON BEHALF OF INSURANCE COMPANIES TO RECOVER $10 MILLION IN REINSURANCE RECOVERABLES RELATING TO AN ASBESTOS SETTLEMENT

The Firm represents two of the AIG Member Companies (Chartis Property Casualty Company and Granite State Insurance Company) in a reinsurance litigation seeking approximately $10 million in reinsurance recoverables. [Chartis Property Casualty Co., et ano. v. Transatlantic Reinsurance Company, Index No. 652337/2011 (N.Y. Supreme Court, N.Y. County)] . The case involves the AIG Companies’ efforts to recover reinsurance balances due and owing under various reinsurance agreements following the AIG Companies’ settlement of their asbestos exposure in connection with several excess insurance policies that the AIG Companies issued to a Fortune 100 policyholder.

A copy of the Summons and Complaint is available below.