Mealey's Reinsurance

  • March 23, 2017

    Justice Approves Reinsurance Commutation Agreement Of Unspecified Amount

    CONCORD, N.H. — A New Hampshire justice on March 13 approved a reinsurance commutation agreement between the liquidator of an insolvent insurer and two insolvent London-based reinsurers (In the Matter of the Liquidation of The Home Insurance Company, No. 03-E-0106, N.H. Sup., Merrimack Co.).

  • March 22, 2017

    Reinsurer Says Insurer Never Asked For Policy To Be Reinsured

    PHILADELPHIA — A reinsurer asked a federal court in Pennsylvania on March 21 to dismiss an insurer’s breach of contract counterclaim because the insurer allegedly never linked an underlying policy to a facultative certificate and, therefore, there is no contract between the parties reinsuring that policy (R&Q Reinsurance Company v. St. Paul Fire & Marine Insurance Company, No. 16-cv-01473, E.D. Pa.).

  • March 21, 2017

    Reinsurer: Insurer Did Not Tell Of Trial Witnesses Until After End Of Discovery

    SYRACUSE, N.Y. — A reinsurer asked a federal court in New York on March 17 for permission to file a letter motion asking the court to disqualify certain trial witnesses that were not revealed until after the end of discovery or, in the alternative, allow the reinsurer to depose the witnesses (Utica Mutual Insurance Company v. Munich Reinsurance America, Inc., No. 12-cv-00196, and Munich Reinsurance America, Inc. v. Utica Mutual Insurance Company, No. 13-cv-00743, N.D. N.Y.).

  • March 21, 2017

    Reinsured Says It Is Not Necessary To Show Reasons For Settling Asbestos Claims

    NEW HAVEN, Conn. — An insurer told a federal court in Connecticut on March 20 that its reinsurer is putting requirements on it that are not universally accepted as necessary under the follow-the-settlements doctrine (Travelers Casualty and Surety Company, f/k/a The Aetna Casualty and Surety Company v. Century Indemnity Company as successor to Insurance Company of North America, No. 16-cv-00170, D. Conn.).

  • March 20, 2017

    Federal Court Clerk Certifies Alleged Reinsurer Is In Default

    NEW YORK — The clerk of a federal court in New York on March 16 issued a certificate of default against a holding company that is allegedly responsible for obligations under certain facultative reinsurance contracts (Roger A. Sevigny, the Commissioner of Insurance of the State of New Hampshire, as Liquidator of The Home Insurance Company v. Trygvesta Forsikring A/S, as successor in interest to Skandinavia Insurance Company Ltd., Trygvesta Forsikring A/S v. Cerberus Holding Company, LLC., No. 16-cv-04874, S.D. N.Y.).

  • March 16, 2017

    Judge Denies In Part Attempt By Reinsurers To Get Case Against Them Dismissed

    NEW YORK — A federal judge in New York on March 9 denied in part a group of reinsurers’ motion to dismiss claims brought by a group of insureds that allege that the reinsurers’ profit-sharing scheme was designed to circumvent states’ insurance laws (National Convention Services, LLC, et al. v. Applied Underwriters Captive Risk Assurance Company, Inc., et al., No. 15-cv-07063, S.D. N.Y.).

  • March 16, 2017

    Surety Obligates Itself To Pay Judgment To Liquidator In Reinsurance Dispute

    NEW YORK — A surety told a federal court in New York on Feb. 14 that it has agreed to obligate itself to cover the possible judgment of a breach of contract case brought against the reinsurer by the liquidator of an insolvent insurer (Roger A. Sevigny, the Commissioner of Insurance of the State of New Hampshire, as Liquidator of The Home Insurance Company v. Trygvesta Forsikring A/S, as successor in interest to Skandinavia Insurance Company Ltd., No. 16-cv-04874, S.D. N.Y.).

  • March 15, 2017

    Reinsurers Sue Insurer For Indemnification Of Securities Probes

    NEW YORK — A group of reinsurance companies and individuals sued an insurer in a New York state court on March 10, seeking indemnification from the insurer for various governments’ financial department investigations (Beechwood Re Holdings, Inc., et al. v. Starr Indemnity & Liability Company, No. 651263/2017, N.Y. Super., New York Co.).

  • March 15, 2017

    Insurer, Reinsurer Stipulate To Dismissal Of Asbestos Reinsurance Case

    SYRACUSE, N.Y. — An insurer and its reinsurer agreed to the dismissal of their asbestos-related breach of contract dispute in a federal court in New York on March 15 (Utica Mutual Insurance Company v. R&Q Reinsurance Company, No. 13-cv-01332, N.D. N.Y.).

  • March 15, 2017

    Suit To Recover Reinsurance Losses From E&O Insurer Remanded To Trial Court

    TRENTON, N.J. — A New Jersey appellate panel on March 10 issued a nonprecedential ruling reversing and remanding the dismissal of a breach of contract case against an errors and omissions (E&O) insurer, finding that shareholders of a reinsurer who had sued the E&Q policyholder did not receive due process in a Bermuda case regarding challenges to the validity of the E&O policy (Robert D. Ferguson, et al. v. Travelers Indemnity Company, et al., No. A-0028-15T1, N.J. Sup., App. Div.).

  • March 14, 2017

    Reinsurer Says Not All Issues Regarding Settlement Of Asbestos Claims Are Known

    NEW HAVEN, Conn. — A reinsurer told a federal court in Connecticut on March 6 that there are genuine issues of material fact still to be resolved in an asbestos reinsurance dispute and, therefore, summary judgment is not warranted (Travelers Casualty and Surety Company, f/k/a The Aetna Casualty and Surety Company v. Century Indemnity Company as successor to Insurance Company of North America, No. 16-cv-00170, D. Conn.).

  • March 13, 2017

    Judge Approves Request For Direct Payments From Reinsurer To Insured

    HARRISBURG, Pa. — A Pennsylvania judge on March 8 approved an arrangement under which a reinsurer will make direct payments to a policyholder of an insolvent insurer (In re:  Reliance Insurance Company in Liquidation, No. 1 REL 2001, Pa. Cmwlth.).

  • March 9, 2017

    Judge Allows Reinsured To File Deposition Transcripts Under Seal

    NEW HAVEN, Conn. — A federal judge in Connecticut on March 8 granted an insurer permission to file certain documents under seal, including deposition transcripts regarding an asbestos reinsurance dispute (Travelers Casualty and Surety Company, f/k/a The Aetna Casualty and Surety Company v. Century Indemnity Company as successor to Insurance Company of North America, No. 16-cv-00170, D. Conn.).

  • March 8, 2017

    Insurer Says Information Party Wants Sealed Was Disclosed In Recent Decision

    SYRACUSE, N.Y. — A nonparty insurer told a federal court in New York on March 7 that portions of the materials that an insurer in a reinsurance dispute wants to be placed under seal were publicly aired in a recent decision in a related case (Utica Mutual Insurance Company v. Munich Reinsurance America, Inc., No. 12-cv-00196, and Munich Reinsurance America, Inc. v. Utica Mutual Insurance Company, No. 13-cv-00743, N.D. N.Y.).

  • March 8, 2017

    Judge Orders Insurer, Reinsurer To Meet And Try To Settle Asbestos Dispute

    UTICA, N.Y. — A federal judge in New York on Feb. 24 ordered an insurer and reinsurer to schedule a settlement conference after the judge ruled on the parties’ motions to dismiss certain claims and which claims remain ready for trial (Utica Mutual Insurance Company v. Fireman’s Fund Insurance Company, No. 09-cv-00853, N.D. N.Y.).

  • March 7, 2017

    Reinsured Says Crimes Asserted Against Executive Do Not Affect Arbitration Award

    NEW YORK — An insurer on March 6 told a federal court in New York that the conviction of the insurer’s chief operating officer on unrelated charges has no bearing on a dispute with a reinsurer over the confirmation or vacatur of an arbitration award (Certain Underwriting Members at Lloyd’s, London v. Insurance Company of the Americas, No. 16-cv-00323, S.D. N.Y.).

  • March 7, 2017

    Judge Approves Extension So Reinsurance Program Parties Can Negotiate Settlement

    NEW YORK — A federal judge in New York on March 3 granted a pleadings filing extension to parties to a reinsurance dispute so the parties can continue settlement discussions (AmTrust North America, Inc., et al. v. Safebuilt Insurance Services, Inc., et al., No. 14-cv-9494, S.D. N.Y.).

  • March 2, 2017

    Insurer, Reinsurer Stipulate To Dismissal Of Asbestos Reinsurance Case

    SAN FRANCISCO — An insurer and a reinsurer told a federal court in California on Feb. 22 that they want to close their asbestos personal injury related reinsurance dispute with prejudice (The American Insurance Co. v. R&Q Reinsurance Co., No. 16-3044, N.D. Calif.).

  • March 2, 2017

    Judge Approves Rate Of Compensation For Party-Appointed Arbitrator

    CHICAGO — An Illinois judge on Feb. 16 approved the rate of pay for an arbitrator representing an insolvent insurer in a dispute with three reinsurers (In the matter of the liquidation of Legion Indemnity Co., No. 02 CH 06695, Ill. Cir., Cook Co., Chanc. Div.).

  • March 2, 2017

    Liquidator Wants Court To Approve Compensation Of Reinsurance Arbitrator

    CHICAGO — The liquidator of an insolvent insurer on Feb. 7 asked an Illinois court to approve the compensation rate of a party-appointed arbitrator in an arbitration between three reinsurers and the insolvent insurer (In the matter of the liquidation of Legion Indemnity Co., No. 02 CH 06695, Ill. Cir., Cook Co., Chanc. Div.).