Lexington, Tokio Settle $7.4M Suit Over 9/11 Coverage

Law360, New York (May 31, 2012, 6:25 PM EDT) -- Tokio Marine & Nichido Fire Insurance Co. Ltd. on Thursday settled a lawsuit by Lexington Insurance Co. that sought to recoup $7.4 million it paid under a settlement with the Port Authority of New York and New Jersey over damage from the World Trade Center attacks.

Lexington attorney Andrew Stewart Amer of Simpson Thacher & Bartlett LLP said he could not comment on details of the settlement because it was confidential.

Lexington alleged Tokio Marine acted in bad faith by reneging on a fronting arrangement and...
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