Reinsurer Disputes $25M Bill For Asbestos Coverage

Law360, New York (November 2, 2009, 7:19 PM EST) -- A unit of Allianz of America has gone on the offensive in a declaratory judgment suit brought by Utica Mutual Insurance Co., arguing in counterclaims filed Monday that it does not owe a disputed $25 million in reinsurance coverage stemming from thousands of underlying suits over asbestos contamination.

The Allianz division, Fireman's Fund Insurance Co., lodged an answer and counterclaims Monday in the U.S. District Court for the Northern District of New York, seeking a declaration that it is not liable for coverage. The reinsurer also...
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