Judge Rules For TIG In $23M Asbestos Reinsurance Battle

Law360, New York (August 17, 2012, 3:31 PM EDT) -- A New York magistrate judge sided with TIG Insurance Co. on Thursday in a nearly $23 million dispute with AIU Insurance Co. after ruling that AIU gave late notice to the reinsurer of a settlement with Foster Wheeler Corp. over asbestos suit coverage.

U.S. Magistrate Judge Henry Pitman held that AIU had breached its reinsurance certificates by not giving prompt notice to TIG about a claim from Foster Wheeler for coverage of asbestos-related injury suits. AIU gave TIG the heads up only in January 2007, though...
To view the full article, register now.




Case Information

Case Title

AIU Insurance Company v. TIG Insurance Company

Case Number



New York Southern

Nature of Suit



Sidney H. Stein

Date Filed

August 7, 2007

Law Firms


UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.