Reinsurer Must Post $1.6M Collateral For Insurer, New York Federal Judge Rules

Mealey's (July 23, 2020, 2:02 PM EDT) -- NEW YORK — A year after dismissing some of a reinsurer's counterclaims for rescission and breach of contract, a New York federal judge on July 22 awarded summary judgment to an insurer on its breach of contract claim that a reinsurer remains required to post $1.6 million collateral to secure its obligations under a reinsurance agreement (AmTrust North America, Inc. v. Signify Insurance Ltd., et al., No 18-3779, S.D. N.Y., 2020 U.S. Dist. LEXIS 129476)....