Eric Dinallo, New York's Superintendent of Insurance, has sued OneBeacon Insurance Co. in an attempt to obtain more than $2 million in reinsurance proceeds allegedly owed to the estate of Midland Insurance Co. for insurance claims paid by Midland's predecessor to Bayer and Bristol/Meyers Squibb arising from blood contamination lawsuits.

The underlying claims allegedly fall under facultative reinsurance contracts issued by OneBeacon's predecessor, General Accident Insurance Co., to Midland that were in effect back in the early to mid 1980s.

According to a press release, under Dinallo's new administration, the New York Liquidation Bureau says it "has begun a proactive program to collect reinsurance balances from delinquent reinsurers."    It will be interesting to follow what happens next.