Lexington Seeks $200,000 From Unione Italiana Re

NEW YORK - Lexington Insurance Co. has sued Unione Italiana Reinsurance Company of America for $200,000 in reinsurance proceeds for an underlying asbestos claims settlement. Lexington Insurance Co. v. Unione Italiana Reinsurance Company of America, No. 10-9687 (S.D. N.Y.).

The Dec. 30 complaint, filed in the U.S. District Court for the Southern District of New York, says Unione is obligated for its share of a 1994 settlement of asbestos product claims brought against Pfizer Inc.

According to the suit, Lexington issued an excess umbrella liability policy to Pfizer for the period Oct. 1, 1980, to Oct. 1, 1981. The policy …