Waste Management Inc.

Two United States-based subsidiaries of Bermuda firms have joined a slew of litigation by insurers and reinsurers who are seeking damages against the United States Government for claims caused by Hurricane Katrina.The two new actions were filed at the U. S. District Court for the Eastern District of Louisiana on March 7, 2008 and brought to 1,568 the number of Katrina-related cases filed at the court against the Government, which have been rolled into one lead action.

Two Bermuda insurers have settled a civil lawsuit in which a waste management insured accused them of failure to pay claims stemming from Hurricane Katrina. A stipulation of dismissal was entered on February 5, 2007 in an action that was filed by Waste Management Inc., a Delaware corporation based in Houston, Texas; Waste Management Louisiana LLC, a Delaware corporation based in Baton Rouge, Louisiana; and Waste Management of Mississippi Inc., a Mississippi corporation based in Baton Rouge, Louisiana, against XL Insurance (Bermuda) Ltd., and Allied World Assurance Company Ltd. at the U. S. District Court for the Eastern District of Louisiana on August 25, 2006.