Insurance

The Dallas Cowboys, the San Francisco 49ers, the LA Rams and six other NFL teams are being sued for at least $14.5 million by Bermuda liquidators working on the winding-up of the insolvent mutual N.F.L. Insurance Ltd (NFLIL).Liquidators David Lines and Peter Mitchell claim that the defendants, who were all members of the mutual, are jointly and severally liable to NFLIL for the as yet indeterminate cost of winding it up and for the mutual insurer's debts and liabilities of more than $14.5 million.

For the first time since their appointment in the summer of 1985, Mentor Insurance liquidators have detected a dim ray of light coming from what they hope will prove to be the end of a very long tunnel.

Aneco Reinsurance Underwriting Ltd chairman Mark Hardy has instructed his lawyers to commence legal proceedings against the underwriters, cedants and brokers responsible for handling Aneco's property catastrophe book of business. The action, to be brought either in Bermuda or in London, will seek damages in connection with the underwriting and placement of this business with Aneco.

Aneco Reinsurance Underwriting Ltd, the beleaguered Bermuda-based reinsurer which is fighting three separate applications to have it placed in liquidation, has won an appeal, on technical grounds, against a winding-up petition started six months ago by Mutual Indemnity Ltd.But the Bermuda Appeal Court's decision, handed down November 28, is already the subject of intense legal scrutiny which may yet produce an appeal to Britain's Privy Council - the highest court of appeal for litigants in the UK's dependent territories.