Settlement Reached in Calif. Federal Reinsurance Action

LOS ANGELES — A settlement was reached in a California federal action involving a dispute over reinsurance coverage for a municipal risk authority’s settlement of claims arising from a fire truck collision.

A joint notice of settlement was filed on June 24 before Judge Fernando L. Aenlle-Rocha of the U.S. District Court for the Central District of California.

Independent Cities Risk Management Authority (ICRMA) is covered for liability claims against its member cities through a Memorandum of Liability Coverage for the 2013/2014 program year. ICRMA is indemnified under a facultative reinsurance certificate issued by Argonaut Insurance Co.

StarStone National Insurance …