Riverstone Insurance Dismissed from Nebraska Reinsurance Action

OMAHA, Neb. — The parties in a declaratory judgment action filed by National Indemnity Co. in a dispute over reinsurance for the settlement of asbestos exposure claims filed against the State of Montana have jointly moved to dismiss the claims against Riverstone Insurance (UK) with prejudice.

The motion to dismiss Riverstone was filed on Nov. 15 in the U.S. District Court for the District of Nebraska.

NICO insured the State of Montana under a policy effective between 1973 and 1975. The policy was reinsured in part under facultative certificates issued by Toyo, TIG Insurance Co., Global Reinsurance Company of America, …