SCOR Re Sued for $6.9 Million in Reinsurance Proceeds in Conn. Federal Court

HARTFORD, Conn. — First State Insurance Co. has sued SCOR Reinsurance Co. in Connecticut federal court, seeking more than $6.9 million in proceeds under a facultative reinsurance certificate

In a Feb. 9 complaint filed in the U.S. District Court for the District of Connecticut, First State alleges SCOR is liable for the portion of an underlying settlement pursuant to the certificate’s “follow the settlements” provision.

The certificate reinsures an Excess umbrella liability policy that First State issued to its insured for the period of Oct. 31, 1981, to Oct. 31, 1982, the complaint says. First State alleges it “paid tens …