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The Collaborative Clearinghouse for Lawsuits and Other Claims Against ACE Group Insurance Companies

CENTURY INDEMNITY COMPANY V. GLOBAL REINSURANCE CORPORATION OF AMERICA

ATTENTION: It is possible that this information may no longer be current and therefore may be inaccurate. The index contains both open and closed cases and is not a complete list of cases in which an ACE Insurance Group company is involved. This information is provided to give interested persons an idea of the issues disputed in the indexed cases. For a full understanding of a case, one should read the rest of the court file, including the response. For the most up-to-date and complete information on a case, visit www.pacer.gov or contact the clerk of the relevant court.

Case Number: 
1:13-cv-00797 Search Pacer
ACE Group party(s): 
Court Type: 
Federal
US District Court: 
Southern District of New York
Date Filed: 
Feb 4 2013

"AS AND FOR A FIRST CAUSE OF ACTION
(BREACH OF CONTRACT)
16. Century re-alleges paragraphs 1 through 15 as though fully set forth herein.

17. All conditions for Global Re's liability under the Reinsurance Certificates have been satisfied.

18. Global Re has been presented with a valid and definitive statement of loss in accordance with the terms of the Reinsurance Certificates in connection with the settlement of Yarway claims arising under the Umbrella Policies.

19. Under the terms of the Reinsurance Certificates, Global Re is presently obligated to pay $2,884,729.75 to Century, representing Global Re's portion of the Yarway losses arising under the Umbrella Policies.

20. Global Re has refused to pay the Reinsurance Billings, and is thus in breach of the Reinsurance Certificates.

21. As a result of Global Re's breach of the Reinsurance Certificates, Century has been damaged in no less than $2,884,729.75.

WHEREFORE, Plaintiff Century respectfully requests that this Court enter judgment in its favor and against Global Re, and grant the following relief:
(i) money damages for all outstanding billings, in an amount to be established in this matter, but in no event less than $2,884,729.75;
(ii) pre-judgment interest on the above sums, at the statutory rate, from the date the cause of action arose or as otherwise determined by law; and
(iii) reimbursement of Century's costs and expenses, reasonable attorneys' fees and other disbursements; and such other and further relief as the Court deems just and proper."

The provided text is an excerpt from a document filed in this case. For a full understanding of the case, one should read the complete court file, including the response.

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