Reinsurers Counterclaim For Breach Of Contract, Argue Insureds Owe Past Premiums

Mealey's (May 17, 2017, 12:49 PM EDT) -- NEW YORK — Accused by insureds of a fraudulent workers’ compensation scheme involving a reinsurance participation agreement, reinsurers assert their own breach of contract counterclaim in a May 4 answer to a New York federal court, alleging that the insureds failed to pay $2.7 million in premiums (National Convention Services, LLC, et al. v. Applied Underwriters Captive Risk Assurance Company, Inc., et al., No. 15-cv-07063, S.D. N.Y.)....