Continental, Portman Settle $17 Million Reinsurance Dispute

KANSAS CITY, Mo. - Continental Casualty Co. has settled a $17 million reinsurance dispute with Portman Insurance Company Ltd., which involved claims arising from the construction of a Missouri power plant. Continental Casualty Co. v. Portman Insurance Co., No. 09-00335 (W.D. Mo.).

On Nov. 18, the parties filed a notice of voluntary stipulated dismissal in the U.S. District Court for the Western District of Missouri.

Beginning in 1998, CCC participated in a global builders risk facility for Black & Veatch Corp. In connection with the facility, a global master builders risk policy was issued to Black & Veatch, effective Sept. …