Complaint alleging breach of contract and insurance bad faith in Samuel Bankman-Fried, described as "a defendant in an ongoing, complex criminal trial relating to alleged conduct related to Paper Bird Inc. and its subsidiary FTX Trading Ltd." v. Continental Casualty Company, described as "Mr. Bankman-Fried’s excess insurer under a directors and officers insurance policy", at the U.S. District Court for the Northern District of California.
An Illinois-based commercial insurer has applied for a court order to halt arbitration proceedings in Canada brought by property and casualty insurer LaSalle Re Limited, which is a subsidiary of LaSalle Re Holdings Ltd. (in liquidation).
United States-based retail giant Sears is suing insurers in Bermuda and elsewhere for allegedly frustrating the processing and payment of “enormous” claims stemming from Hurricane Katrina in 2005. Sears Holdings Corporation, a Delaware corporation based in Hoffman Estates, Illinois, filed a civil complaint at the Circuit Court of Harrison County, Mississippi Second Judicial Court on August 25, 2006, with the case being transferred to the U. S. District Court for the Southern District of Mississippi on December 18, 2006.
An insurer has asked a court to order Bermuda-based Scandinavian Reinsurance Company Ltd. to pay $27.88 million to satisfy a final arbitration award.Continental Casualty Company, of Chicago, filed a motion to confirm the award against Scandinavian Re at the U. S. District Court for the Northern District of Illinois on April 21, 2005. The award was issued in two parts, on March 23 and April 16, 2005, and concerned a dispute over two reinsurance contracts, stated the petition.
Continental Casualty Company, d.b.a. CNA, has accused four former executives of stealing trade secrets and breaching confidentiality agreements by helping to start a rival insurer in Bermuda.The civil lawsuit was filed by Chicago-based CNA at the United States District Court for the Northern District of Illinois on September 30, 2003.