ACE American Insurance

Reinsurers seek to avoid $30 m-plus claims by chemicals manufacturer

July 31, 2009

Fourteen reinsurers, including four based in Bermuda, has brought a legal action against a New York Stock Exchange listed chemicals manufacturer and its captive insurer in an attempt to avoid paying claims totaling more than $30 million arising from Hurricane

ACE subsidiary sued over business interruption claim

January 20, 2009

A US subsidiary of ACE Ltd. is being sued for allegedly refusing to satisfy a business interruption claim totaling $523,000.Details are contained in a civil complaint that was filed by Texas based Gulf Coast Asphalt Co. LLC against ACE American

Retail giant sues Bermuda insurers over Marsh-Aon alleged bid-rigging scheme

November 11, 2007

Retail giant Sears, Roebuck and Co. and related companies have filed a complaint in Atlanta in which they are seeking hundreds of millions of damages against insurers in Bermuda and elsewhere concerning an alleged bid rigging scheme involving brokers Marsh

Arch Capital subsidiaries sued by charity and hotel over Hurricane Katrina losses

November 11, 2007

A charity and a hotel have filed two separate civil complaints against U. S. subsidiaries of Bermuda based Arch Capital Group Ltd. concerning Hurricane Katrina claims disputes.The first action was filed by Goodwill Industries of Southeastern Louisiana, Inc., a non

Bermuda insurers attempt to force arbitration on NYSE-listed firm

September 10, 2007

Reinsurers in Bermuda and elsewhere are seeking to force a Vermont based captive and its NYSE listed parent to arbitrate a dispute involving claims from a fire at a chemical manufacturing plant.A motion to compel arbitration was filed against International

Tyson Foods seeks $113 m in Hurricane Katrina claims

September 10, 2007

Giant meat processor Tyson Foods, Inc. is seeking damages of more than $113 million in litigation and arbitrations against insurers in Bermuda and elsewhere for alleged property damage and business interruption losses caused by Hurricane Katrina on August 29, 2005.Details

Bermuda insurers sued in $350 m-limit policy dispute

May 5, 2006

A New Jersey based manufacturer has sued several insurers, including two that are incorporated in Bermuda, in an attempt to enforce a $350 million limit insurance policy.Formosa Plastics Corporation USA claims they have breached the terms of the contract concerning

ACE subsidiaries settle class action for $14 m

July 31, 2004

Four subsidiaries of ACE Ltd. have agreed to pay $14 million to settle a class action lawsuit filed in the United States on behalf of 900 firms that bought 1,100 workers' compensation policies from 1997 to 1999.A settlement was announced on July 28, 2004 by lead class attorney Joseph Roda, of RodaNast P. C., and came after four years of litigation and on the eve of trial.