Financial Services Company: 'Reinsurers Are Real Insurers' In Credit Policy Structure

Mealey's (September 29, 2020, 10:56 AM EDT) -- WASHINGTON, D.C. — In a breach of contract dispute over a $26 million award, a financial services company says in a Sept. 28 reply brief to its cross-motion for partial summary judgment in a District of Columbia federal court that it purchased a credit insurance policy based on the explicit agreement that reinsurers would pay for covered losses and that the "architect" of the credit policy structure confirmed that "the reinsurers are the real insurers" (Vantage Commodities Financial Services I, LLC v. Assured Risk Transfer PCC, LCC, et al., No. 17-01451, D. D.C.)....