COURT ORDERS STIPULATED DISMISSAL IN REINSURANCE DISPUTE
National Union Fire Insurance Company of Pittsburgh, Pa. sued Scottsdale Insurance Company in October 2009, alleging that Scottsdale breached the parties’ reinsurance agreement by failing to reimburse National Union for certain costs and expenses in connection with an underlying settlement National Union entered into with its insured, arising from damage to two gas turbines. National Union and Scottsdale have now pulled the matter out of court by joint stipulation of dismissal, which was recently entered and ordered by the court. National Union Fire Ins. Co. of Pittsburgh, Pa. v. Scottsdale Ins. Co., No. 09-8635 (USDC S.D.N.Y. May 17, 2010).
This post written by John Pitblado.
