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It follows an earlier decision by a New York state court that a magazine publisher had not sustained physical damage from coronavirus.
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Ascot leads the marine liability program, which sources describe as an important test case for the market. -
The specialty company’s share price has fallen 83 percent in the past six months.
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In its complaint Citizens accuses Strems Law Firm of “egregious dilatory tactics”.
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The insurers say they are not liable for Hertz’s defense costs from a 2014 regulatory probe.
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The utility expects to emerge from Chapter 11 in July after a bankruptcy court approves its settlement.
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The value of accounting adjustments made by Ronald Pipoly are said to have exceeded $300mn by the end of 2015.
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Far Horizons Capital is also suing JP Morgan for misrepresenting the reinsurer’s prospects when it was founded.
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Allianz, Chubb and WRB are among the carriers that oppose the centralisation of BI claims.
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Argo has consented to a cease-and-desist order and will pay a $900,000 civil penalty.
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In court documents, the defence company says Aon failed to provide sufficient claims notification advice.
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The insurer wrote an excess casualty policy for the ride-share company in 2014.
