Gencon Insurance Company of Vermont, a captive providing primary and excess general liability coverage to organisations affiliated with the Seventh-day Adventist Church (SDA Insureds), has brought a lawsuit against its reinsurers – AIG subsidiary Lexington Insurance Company and Swiss Re subsidiary Westport Insurance Corporation.
Gencon alleges breach of contract, breach of the implied duty of good faith and fair dealing, and seeks declaratory relief, claiming the reinsurers failed to honour their obligations under facultative reinsurance agreements.
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