XL and AWAC settle Hurricane Katrina-related lawsuit in Louisiana

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.