Pennsylvania Insurance Co. Moves for Judgment in Mass. Reinsurance Brawl
October 25, 2022
BOSTON — Pennsylvania Insurance Co. (PIC) seeks partial judgment on the pleadings in a case in which SPARTA Insurance Co. seeks payment for underlying claims pursuant to a reinsurance contract and stock purchase agreement.
In an Oct. 19 motion filed before Chief Judge F. Dennis Saylor IV of the U.S. District Court for the District of Massachusetts, PIC contends there is no ripe dispute over the indemnification procedures under the 2007 stock purchase agreement.
“The communications SPARTA reference in its Amended Complaint do not contain any requests to pay a specific loss, a condition precedent of indemnification under the 2007 …