OneBeacon Sues Reinsurer for $155,172 in Prejudgment Interest

BOSTON - OneBeacon America Insurance Co. is suing a London reinsurer for $155,172 in prejudgment interest relating to an underlying $7 million settlement of environmental claims. OneBeacon America Insurance Co. v. Dominion Insurance Company Ltd., No. 11-10776-GAO (D. Mass.).

OneBeacon filed the complaint against Dominion Insurance Company Ltd. on May 3 in the U.S. District Court for the District of Massachusetts.

OneBeacon, formerly known as CGU, insured Olin Corp. under certain excess liability policies, which were in turn reinsured by Dominion Insurance Company Ltd.

Dominion is an English company based in London and is currently in runoff.

Olin sought …