Farmers Alliance, Pennsylvania Lumbermens Dismissed from Neb. Reinsurance Action

OMAHA, Neb. — Farmers Alliance Mutual Insurance Co. and Pennsylvania Lumbermens Mutual Insurance Co. were dismissed from an action in which National Indemnity Co. (NICO) accuses its reinsurers of breaching facultative reinsurance certificates by refusing to contribute toward a settlement of asbestos exposure claims filed against the state of Montana.

In a June 24 order, Judge Susan M. Bazis of the U.S. District Court for the District of Nebraska granted the parties joint motion for dismissal with prejudice.

NICO has demanded a total of $101,898,830 in reinsurance proceeds from various reinsurers, including Global Reinsurance Company of America, R&Q Reinsurance Co. …