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Mealey's Reinsurance

  • August 17, 2018

    Insurer’s Liquidator Says Depositions Scheduled In Reinsurance Lawsuit

    NEW YORK — The liquidator for Home Insurance Co. in an Aug. 8 letter to a New York federal judge says that depositions are set to begin in a dispute over reinsurance proceeds allegedly owed to the insolvent insurer under three facultative reinsurance certificates (Roger A. Sevigny v. Trygvesta Forsikring A/S, Trygvesta Forsikring A/S v. Cerberus Holding Company LLC, No. 16-04874, S.D. N.Y.).

  • August 16, 2018

    Reinsurer Asks Federal Court For Confirmation Of Arbitration Award

    NEW YORK — A reinsurer on Aug. 14 sought confirmation by a New York federal court of an arbitration award in a dispute over denied billings in a retrocessional reinsurance relationship (Continental Insurance Co. v. AXA Versicherung AG, No. 18-7349, S.D. N.Y.).

  • August 16, 2018

    Parties Seek To Dismiss Claims Over Asset Depletion With Poor Reinsuring Risks

    KANSAS CITY, Kan. — Life insurers, a bank and a financial services firm on Aug. 8 moved for dismissal of claims filed in a total value annuity investor’s Kansas federal court lawsuit alleging that the defendants depleted the life insurers’ surplus assets by reinsuring their risks with one another rather than using “arm’s-length reinsurance treaties” (Albert Ogles v. Security Benefit Life Insurance Co., et al., No. 18-02265, D. Kan.).

  • August 16, 2018

    Judge Denies New Trial On Contract, Bad Faith Claims Against Insurer

    LOS ANGELES — A California federal judge on Aug. 1 denied a life insurer’s request for a new trial or judgment as a matter of law on breach of contract and bad faith claims and denied its motion to strike a reinsurance underwriter’s testimony (DCD Partners LLC, et al. v. Transamerica Life Insurance Co., et al., No. 15-03238, C.D. Calif., 2018 U.S. Dist. LEXIS 135792).

  • August 14, 2018

    Reinsurer, Insurer Respond To Issues For Summary Judgment In Asbestos Case

    SYRACUSE, N.Y. — Response letters were filed Aug. 10 by a reinsurer and an insurer to a New York federal court regarding issues such as follow-the-fortunes doctrine and res judicata that they plan to raise in their summary judgment motions in an asbestos coverage dispute (Utica Mutual Insurance Co. v. R&Q Reinsurance Co., No. 15-270, N.D. N.Y.).

  • August 13, 2018

    Reinsurer, Insurer Agree To Dismiss $1.25M Breach Of Contract Dispute

    HARTFORD, Conn. — A reinsurer and insurer on Aug. 9 agreed to dismiss, with prejudice and without costs to either party, a $1.25 million breach of contract dispute in a Connecticut federal court over settlement of underlying asbestos claims (Travelers Casualty and Surety Co. v. Allstate Insurance Co., No. 17-02144, D. Conn.).

  • August 13, 2018

    Judge Enters Judgment To Government In Reinsured Student Loan Default Case

    MIAMI — A Florida federal judge granted summary judgment to the U.S. government on Aug. 9 regarding its recovery of a federally reinsured student loan that had been defaulted (United States of America v. Alvino Blanco, No. 16-14472, S.D. Fla., 2018 U.S. Dist. LEXIS 135413).

  • August 13, 2018

    Reinsurer Seeks Dismissal From Contract, Fraud Suit Over Disability Benefits

    MONTGOMERY, Ala. — In a case over the denial of benefits under four long-term disability insurance policies, a reinsurer argues in an Aug. 1 motion that an Alabama federal court should dismiss breach of contract, bad faith and fraud claims because it is not a party to the policies (Horace R. Theriot Jr. v. The Northwestern Mutual Life Insurance Co., et al., No. 18-00688, M.D. Ala.).

  • August 10, 2018

    Insurance Services Provider Answers Agency’s Breach Of Contract Counterclaim

    TULSA, Okla. — In an Oklahoma federal court lawsuit alleging disparagement through false and misleading representation of reinsurance problems, a distributor of self-insurance products filed an answer on Aug. 2 to an insurance agency’s counterclaims for breach of contract and tortious interference with prospective economic advantage (The Sandner Group – Alternative Risk Solutions Inc. v. BancFirst Insurance Services Inc., et al., No. 18-0265, N.D. Okla.).

  • August 10, 2018

    Pennsylvania High Court Denies Appeal In Reinsurance Liability Cap Dispute

    HARRISBURG, Pa. — In a one-page per curiam order, the Pennsylvania Supreme Court on Aug. 7 denied an appeal of a lower court’s ruling affirming that reinsurance facultative certificates covered defense expenses in excess of a liability cap and that insurers were entitled to interest on certain proofs of loss for asbestos claims issued before 2013 (Century Indemnity Co., et al v. OneBeacon Insurance Co., No. 45 EAL 2018, Pa. Sup., 2018 Pa. LEXIS 4075).

  • August 8, 2018

    Insurer, Reinsurer Write To Court About Issues For Summary Judgment

    SYRACUSE, N.Y. — In an asbestos coverage dispute, a reinsurer and an insurer wrote letters on Aug. 7 to a New York federal court regarding issues such as follow-the-fortunes doctrine and res judicata that they plan to raise in their summary judgment motions (Utica Mutual Insurance Co. v. R&Q Reinsurance Co., No. 15-270, N.D. N.Y.).

  • August 8, 2018

    Farmers Allowed To Exclude Data Under Federally Reinsured Crop Year, Panel Says

    NEW ORLEANS — The Fifth Circuit U.S. Court of Appeals on Aug. 7 affirmed that farmers were permitted to exclude historical data for a federally reinsured crop year, even though the Federal Crop Insurance Corp. (FCIC) had not completed its data compilation (Michael Adkins, et al. v. Steven C. Silverman, et al., No. 17-10759, 5th Cir., 2018 U.S. App. LEXIS 21961).

  • August 8, 2018

    Life Insurer Seeks Extension On Motion To Dismiss Schedule In Class Action

    NEW YORK — A life insurer wrote to a New York federal court on Aug. 6 requesting an extension of the motion to dismiss briefing schedule in a class action alleging breach of policies by the unlawful increase of the premium costs to recoup costs associated with the acquisition (Derek Fan, et al. v. Phoenix Life Insurance Co., et al., No. 18-01288, S.D. N.Y.).

  • August 7, 2018

    No Personal Jurisdiction Exists Over Reinsurers In Breach Of Contract Case, Judge Says

    WASHINGTON, D.C. — A financial services company failed to establish a District of Columbia federal court’s personal jurisdiction over reinsurers, a federal judge held Aug. 6, granting the reinsurers’ motions to dismiss breach of contract claims in a lawsuit seeking to recover a $26 million arbitration award (Vantage Commodities Financial Services I, LLC v. Assured Risk Transfer PCC, LCC, et al., No. 17-01451, D. D.C., 2018 U.S. Dist. LEXIS 131401).

  • August 7, 2018

    Homeowner Opposes Dismissal Of Deceptive Acts, Illegal Kickback Lawsuit

    HONOLULU — In a Hawaii federal court, a homeowner in an Aug. 3 brief opposes banks and insurers’ motions to dismiss her second amended complaint alleging unfair or deceptive acts or practices by them in the placement of “unnecessary” insurance, with “unreasonable and inflated premiums” that included “improper compensation through illegal kickback or captive reinsurance arrangements” (Julia Wieck v. CIT Group Inc., et al., No. 16-00596, D. Hawaii).

  • August 7, 2018

    2 Reinsurers Answer Insurer’s Breach Of Contract Counterclaim

    NEW YORK — On Aug. 6, two reinsurers filed an answer and defenses to an insurer’s breach of contract counterclaim in a New York federal court lawsuit regarding claims under facultative reinsurance contracts for losses of $2.5 million (Continental Insurance Company of New Jersey, et al. v. National Union Fire Insurance Company of Pittsburgh, PA, No. 18-4715, S.D. N.Y.).

  • August 6, 2018

    Parties Consent To Filing Of Documents Under Seal In Reinsurance Dispute

    SACRAMENTO, Calif. — In two putative class actions over a reinsurance participation agreement (RPA), a California federal judge on July 25 approved a stipulation and proposed order by the parties consenting to the filing of documents under seal and the redaction of documents (Shasta Linen Supply Inc. v. Applied Underwriters Inc., et al., Nos. 16-00158 & 16-01211, E.D. Calif., 2018 U.S. Dist. LEXIS 126405).

  • August 6, 2018

    Reinsurer Seeks Judgment Against Broker’s Former Owners For $3.2M Judgment

    SAN DIEGO — In a California federal court dispute over breached reinsurance agreements from fraudulent transfers, a reinsurer on July 27 sought summary judgment against the former owners of an insurance brokerage company for payment of a $3.2 million judgment (Odyssey Reinsurance Co. v. Richard Keith Nagby, et al., No. 16-3038, S.D. Calif.).

  • August 3, 2018

    Nebraska Federal Judge Awards Promissory Note Holder $166,202.65

    LINCOLN, Neb. — Finding that a promissory note, executed pursuant to a reinsurance participation agreement (RPA), is enforceable, a Nebraska federal judge on Aug. 2 ordered that the note holder be awarded $166,202.65 due to nonpayment (Applied Underwriters Inc. v. Top’s Personnel Inc., No. 15-90, D. Neb., 2018 U.S. Dist. LEXIS 129470).

  • August 2, 2018

    Parties In Workers’ Comp, Reinsurance Contracts Suit Hold Pretrial Conference

    BRIDGEPORT, Conn. — Parties in a dispute over a series of workers’ compensation insurance and reinsurance contracts held a pretrial conference on June 21 where they talked about the nature of their claims and affirmative defenses, the schedule for discovery and the prospects for settlement, according to a July 9 filing by a Connecticut federal judge (Charter Oak Oil Co. Inc. v. Applied Underwriters Inc., et al., No. 17-00689, D. Conn.).