Judge Declines To Dismiss Claims Against Bank Over Reinsurance Trust Mishandling

Mealey's (September 29, 2017, 12:32 PM EDT) -- COLUMBIA, S.C. — An insurer sufficiently alleged claims for breach of contract, breach of fiduciary duty, negligence/gross negligence and negligent misrepresentation against a bank for its role as trustee of a reinsurance trust with an insolvent insurer, a South Carolina federal judge ruled Sept. 28, refusing to dismiss the claims (Accident Insurance Company Inc. v. U.S. Bank National Association, et al., No. 16-2621, D. S.C., 2017 U.S. Dist. LEXIS 159628)....