Bank Is Not Liable For Actions To Reinsurance Trust, Federal Judge Says

(April 21, 2020, 1:25 PM EDT) -- COLUMBIA, S.C. — A bank is not liable to an insurer for claims arising out of an alleged breach by the bank of its duties as trustee of a reinsurance trust for an insolvent insurer, a South Carolina federal judge ruled April 20, following a bench trial (Accident Insurance Company Inc. v. U.S. Bank National Association, et al., No. 16-2621, D. S.C., 2020 U.S. Dist. LEXIS 68918)....