Company Overview of Arrowood Indemnity Company
Arrowood Indemnity Company offers property and casualty insurance services. The company was formerly known as Royal Indemnity Company and changed its name to Arrowood Indemnity Company in September, 2007. The company was founded in 1910 and is based in Charlotte, North Carolina. Arrowood Indemnity Company operates as a subsidiary of Arrowpoint Capital.
3600 Arco Corporate Drive
P O Box 1000
Charlotte, NC 28201
Founded in 1910
Key Executives for Arrowood Indemnity Company
Compensation as of Fiscal Year 2014.
Arrowood Indemnity Company Key Developments
United States Fire Insurance Provides an Update on the Action to Recover a Portion of Costs from Arrowood Indemnity Co. and United States Fidelity and Guaranty Co
May 13 13
The California Court of Appeal held that a trial court did not abuse its discretion in apportioning defense and settlement costs in actions alleging asbestos-related injuries. United States Fire Insurance Company Inc. (U.S. Fire) paid various costs in defending and settling seven suits filed by employees who alleged injuries from asbestos exposure while working at Union Electric Co. facilities. U.S. Fire then brought an action to recover a portion of these costs from Arrowood Indemnity Co. and United States Fidelity and Guaranty Co. (U.S. F & G). The main issue throughout the litigation was the effect of an indemnity agreement on Arrowood and U.S. F & G's obligations to contribute to defense and settlement costs. Following a bench trial, the trial court agreed that Arrowood and U.S. F & G were responsible for a portion of the costs and calculated their share to be $177,715. The amounts were identical to the apportionment proposed by Arrowood and U.S. F & G, which was based on the duration of each employee's work at each Union Electric plant; whether the employee's work was performed before or after the effective date of relevant safety regulations-when the use of asbestos became less widespread; and whether the employee's exposure occurred while repairing existing plants or while working on new plant construction, which typically involved greater risk of harm. U.S. Fire appealed. The court of appeal affirmed the trial court's judgment. In so ruling, the court of appeal rejected U.S. Fire's argument that the amount of $177,715 was too low and that the trial court misapplied principles of insurance law by limiting Arrowood and U.S. F & G's liability on the basis of contractual indemnity provisions. Trial courts have great latitude in apportioning defense and settlement costs in contribution actions and U.S. Fire failed to demonstrate that the trial court improperly apportioned them in this case.
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