Assignee, Reinsurer Spar Over Timeliness Of Claims Seeking Reinsurance Payments

Mealey's (February 15, 2017, 8:07 AM EST) -- CHICAGO — The assignee of certain reinsurance receivables rights challenging a lower court’s finding that its claims against a reinsurer are untimely and the reinsurer argued recently in the Seventh Circuit U.S. Court of Appeals over whether the assignee’s claims are time-barred or whether the original reinsured’s insolvency affected the claim accrual date (Pine Top Receivables of Illinois, LLC v. Banco De Seguros Del Estado, No. 16-3499, 7th Cir.)....