Sphere Drake sued for $200 million in New York

By David Marchant

17 years ago

Topics

Bermuda Insurance USA

Keywords

Bennett Funding Group, Inc. Bermuda Insurance Market Richard Breeden Sphere Drake Insurance The Processing Center, Inc.

Bermuda-based insurer Sphere Drake is facing potential claims of more than $200 million from a civil lawsuit that has been filed in New York.The man who filed the action, Richard Breeden, called on the company to “honor its obligations” over reinsurance coverage he said it provided to two bankrupt US companies he is administering, Bennett Funding Group, Inc. and The Processing Center, Inc.

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