SAN FRANCISCO – An insurance firm alleges that another firm has refused to pay its share of billings after a settlement.
The American Insurance Co. filed a complaint on June 6 in the U.S. District Court for the Northern District of California against R&Q Reinsurance Co. citing breach of contract.
According to the complaint, the plaintiff alleges that it issued excess liability policies to General Motors Corp., which was named in several asbestos-related lawsuits. The plaintiff allegedly secured reinsurance of these policies through the defendant.
The suit states that the plaintiff paid a settlement and that the defendant owes a share of the billings. The plaintiff holds R&Q Reinsurance Co. responsible because the defendant allegedly refused to pay its share of ceded losses and expenses under the reinsurance agreements.
The plaintiff seeks damages in an amount to be determined in trial, including the $1,470,355.83 allegedly owed, interest, all legal fees and any other relief as this court deems just. It is represented by Kelly D. Fair, Shawn L. Kelly and John R. Vales of Dentons US LLP in San Francisco.
U.S. District Court for the Northern District of California Case number 3:16-cv-03044-LB