Valhalla insurance coverage dealer linked to $41M Afghan political violence declare
A world firm claims {that a} Valhalla insurance coverage dealer and Lloyd’s London Insurers have refused to honor a $41 million declare for losses incurred when the Taliban overran its Bagram, Afghanistan warehouse.
Anham USA Inc. accused USI Insurance coverage Providers of fraud, negligence and civil conspiracy in an April 4 grievance filed in U.S. District Court docket, White Plains.
USI and one other dealer “had substantial monetary incentives to create a construction for insuring Anham for the Bagram warehouse,” the grievance states, and conspired with Lloyd’s London Insurers “to extract funds … for an insurance coverage program that was poor.”
USI didn’t reply to an e-mail asking for its facet of the story.
London barrister Peter John Sibley MacDonald Eggers denied that Lloyd’s insurers had a contract with Anham, in a declaration filed with the courtroom on April 11, and demanded that the dispute be introduced earlier than an English courtroom or London arbiter.
In 2011, Anham, of McLean, Virginia and Dubai, United Arab Emirates, received a contract to provide meals to U.S. troops in Afghanistan. It constructed a $40 million, 1.3-million-square-foot warehouse and safety compound close to Bagram Air Base.
In 2012, Anham says, USI served as its dealer and first level of contact for negotiating political violence insurance coverage. USI allegedly made a cope with Tysers Insurance coverage Dealer of the UK to assist place a reinsurance contract with Lloyd’s.
The brokers suggested Anham that it had to make use of an Afghan “fronting insurer,” in keeping with the grievance, even when the danger can be borne by Lloyd’s. The fronting firm, Afghan International Insurance coverage Ltd., facilitated compliance with native legal guidelines.
Anham says it by no means obtained an insurance coverage coverage from Afghan International and as a substitute obtained reinsurance certificates from Lloyd’s for protection of riots, strikes, civil commotion, conflict, terrorism and political violence.
It claims that it paid greater than $4 million in premiums to USI and that USI routed funds to Lloyd’s and Afghan International.
In 2021, Taliban militants started taking up Afghan provinces because the Afghan authorities started to break down. In August 2021, the Taliban seized management of the Bagram warehouse.
Anham declared the warehouse a $45 million loss, and it requested Lloyd’s and Afghan International for $41 million, the total quantity of the coverage limits.
“Afghan International has successfully disappeared,” in keeping with the grievance, and Lloyd’s has denied protection based mostly on purported insurance coverage exclusions and limitations and on allegations of criminality that Anham had not disclosed.
Lloyd’s “now hides behind bogus protection defenses,” the grievance states, “whereas additionally asserting they’re past Anham’s attain on account of alleged lack of contractual privity.”
Anham accuses Lloyd’s and Afghan International of breach of contract and civil conspiracy.
It’s represented by Gilbert LLP of Washington, DC.
#Valhalla #insurance coverage #dealer #linked #41M #Afghan #political #violence #declare, 1681747825