NICO Files 3rd Amended Complaint Against Reinsurers in Asbestos Coverage Brawl

OMAHA, Neb. — National Indemnity Co. (NICO) has filed a third amended complaint against reinsurers that allegedly breached facultative reinsurance certificates by refusing to contribute toward a settlement of asbestos exposure claims filed against the state of Montana.

In the March 17 complaint filed in the U.S. District Court for the District of Nebraska, NICO has demanded a total of $101,898,830 in reinsurance proceeds from Global Reinsurance Company of America, R&Q Reinsurance Co. and the “Newark Re Pool” defendants, TIG Insurance Co. and SiriusPoint Ltd.

NICO insured the State of Montana under a policy effective between 1973 and 1975. The …