Life Insurer Obtains $2.7M Default Judgment Against Reinsurer Over Medical Claims

Mealey's (May 17, 2017, 11:46 AM EDT) -- CHICAGO — Finding that a reinsurer abandoned its defense and any claims against a life insurance company, an Illinois federal judge on April 11 entered a $2,716,527.64 default judgment to the insurer against the reinsurer in a dispute over medical reinsurance proceeds (Guarantee Trust Life Insurance Co. v. American Medical and Life Insurance Co., No. 10-cv-02125, N.D. Ill.)....