Lexington Sues Reinsurer for Contribution Toward Asbestos Claims Settlement
April 21, 2021
BOSTON — Lexington Insurance Co. has sued R&Q Reinsurance Co. in Massachusetts federal court, demanding reinsurance coverage for a settlement of underlying asbestos bodily injury claims filed against Borg Warner Corp.
In a March 31 complaint filed in the U.S. District Court for the District of Massachusetts, Lexington says R&Q breached five facultative certificates by refusing to pay its purported share of the settlement.
From 1968 to 1982, Lexington Insurance Company issued nine excess umbrella liability policies to Borg Warner, which manufactured and distributed automotive and vehicle parts that contained asbestos.
In turn, Lexington allegedly obtained facultative reinsurance from …
- White & Williams LLP