Mealey's Reinsurance

  • March 28, 2019

    Insurer Sues Reinsurer For Breach Of Contract, Seeks $8.6M For Reimbursement

    RIVERSIDE, Calif. — A reinsurer breached its contract and is responsible for the reimbursement of $8.6 million for payment of claims under a commercial property policy, an insurer alleges in a March 25 complaint filed in a California federal court (Nationwide Agribusiness Insurance Co. v. The Hartford Steam Boiler Inspection and Insurance Co., No. 19-00531, C.D. Calif.).

  • March 27, 2019

    Parties Offer Modification Of Schedules In Reinsurance Participation Agreement Cases

    SACRAMENTO, Calif. — Parties on March 25 gave a California federal judge their proposal for modification to the schedules in two putative class actions over a reinsurance participation agreement (RPA) entered into by hundreds of California businesses when they bought a workers’ compensation program (Shasta Linen Supply Inc. v. Applied Underwriters Inc., et al., No. 16-158, Pet Food Express Ltd., et al. v. Applied Underwriters Inc., et al., No. 16-1211, E.D. Calif.).

  • March 27, 2019

    Post-Trial Briefs Offered In Reinsurance Dispute Over Mine Subsidence Damages

    SPRINGFIELD, Ill. — An insurance fund and a railroad company on March 25 submitted their post-trial briefs to an Illinois federal court addressing alter-ego and de facto merger claims over payment for mine subsidence damages in their reinsurance coverage dispute (Illinois Mine Subsidence Insurance Fund v. Union Pacific Railroad Co., No. 17-3199, C.D. Ill.).

  • March 27, 2019

    Reinsurers Sued For Failure To Pay Toward Asbestos Personal Injury Claims

    SAN FRANCISCO — An insurer accuses two reinsurers in a March 25 complaint filed in a California federal court of failing to pay amounts owed under facultative reinsurance contracts in connection with alleged liability to asbestos personal injury claims (Insurance Company of the State of Pennsylvania v. Transport Insurance Co., et al., No. 19-01532 N.D. Calif.).

  • March 27, 2019

    Mortgage Company Seeks Dismissal Of Lender-Placed Insurance Scheme Case

    TRENTON, N.J. — A mortgage company argues in a March 25 reply brief to a New Jersey federal court that the filed-rate doctrine bars homeowners’ claims in a lawsuit concerning allegations of violations of the Racketeer Influenced and Corrupt Organizations Act based on a lender-placed insurance (LPI) scheme involving the use of kickbacks, including reinsurance premiums (Edward Leo v. Nationstar Mortgage LLC of Delaware, et al., No. 17-05839, D. N.J.).

  • March 26, 2019

    Magistrate Judge Issues Protective Order In Federally Reinsured Crop Insurer’s Case

    OMAHA, Neb. — In a federally reinsured crop insurer’s breach of contract dispute against a former employee over a nonsolicitation agreement, a Nebraska federal magistrate judge on March 25 issued a protective order regarding the disclosure of confidential discovery material (Farm Credit Services of America FLCA v. Kathy Mens, No. 19-14, D. Neb.).

  • March 26, 2019

    Reinsurer Tells Court It Is Appealing Order Directing Registry Funds Payment

    SAN DIEGO — In a dispute over a $3.2 million judgment, a reinsurer filed a notice of appeal on March 21 of a California federal judge’s order directing $958,017.66 in funds in the court registry to another reinsurer as judgment creditor as well as the judge’s denial of a motion to intervene (Odyssey Reinsurance Co. v. Richard Keith Nagby, et al., No. 16-3038, S.D. Calif.).

  • March 25, 2019

    Judge Denies Dismissal Of Reinsurer’s Attorney Fees Case Against Insurer’s Liquidator

    CHICAGO — An Illinois federal judge on March 22 declined to grant an insolvent insurer’s liquidator’s motion to dismiss or stay a reinsurer’s dispute seeking confirmation of an arbitration award for $437,000 in attorney fees (Catalina Holdings (Bermuda) Ltd. v. Jennifer Hammer, No. 18-5642, N.D. Ill., 2019 U.S. Dist. LEXIS 47783).

  • March 25, 2019

    Judge Allows Civil Conspiracy Claim To Survive Over Bank’s Role As Reinsurance Trust

    COLUMBIA, S.C. — In a dispute over a bank’s alleged breach of duties as trustee of a reinsurance trust for an insolvent insurer, a South Carolina federal judge on March 22 denied summary judgment to the bank on a civil conspiracy claim (Accident Insurance Company Inc. v. U.S. Bank National Association, et al., No. 16-2621, D. S.C., 2019 U.S. Dist. LEXIS 47656).

  • March 21, 2019

    Self-Insured Association, Reinsurer Offer Oppositions To Summary Judgment Motions

    TAMPA, Fla. — A Florida self-insured intergovernmental risk management association and a reinsurer on March 18 responded to their competing summary judgment motions in a breach of contract dispute filed in Florida federal court with regard to allegations that the reinsurer failed to reimburse a $750,000 settlement and defense costs in a civil rights action (Public Risk Management of Florida v. Munich Reinsurance America Inc., No. 18-1449, M.D. Fla.).

  • March 20, 2019

    Judge Dismisses Claims In Hedge Funds’ Liquidators’ Lawsuit Over Insolvency

    NEW YORK — In a case filed by liquidators for two hedge funds over allegations that the funds’ net asset value was not only insolvent but had liabilities between $400 million and $800 million, a New York federal judge on March 15 decided motions to dismiss aiding and abetting breach of fiduciary duties, aiding and abetting fraud and unjust enrichment claims as to certain defendants (Martin Trott, et al. v. Platinum Management [NY] LLC, et al., No. 18-10936, S.D. N.Y.).

  • March 19, 2019

    Parties Settle Disparagement Case Over Self-Insurance Products For School Districts

    TULSA, Okla. — According to a March 14 settlement conference report, parties have reached a settlement in an Oklahoma federal court lawsuit regarding alleged disparagement to a self-insurance products distributor during the promotion of a competitor’s products to school districts (The Sandner Group – Alternative Risk Solutions Inc. v. BancFirst Insurance Services Inc., et al., No. 18-0265, N.D. Okla.).

  • March 19, 2019

    Judge Dismisses Run-Off Insurer’s RICO, Fraud Claims In $320M Misuse Dispute

    NEW YORK — In a dispute over the alleged mismanagement and misuse of $320 million by a reinsurer and its entities, a New York federal judge on March 15 dismissed a run-off insurer’s claims for violation of the Racketeer Influenced and Corrupt Organizations (RICO) Act, fraud, constructive fraud and unjust enrichment (Senior Health Insurance Company of Pennsylvania v. Beechwood Re Ltd., et al., No. 18-6658, S.D. N.Y.).

  • March 19, 2019

    Insurer, Reinsurer Tell Judge Interim Final Award Issued By Arbitration Panel

    NEW YORK — On March 14, an insurer and a reinsurer notified a New York federal judge that an arbitration panel issued an interim final award in their $3.85 million reinsurance dispute involving underlying workers’ compensation losses (In re arbitration between National Union Fire Insurance Company of Pittsburgh, PA v. Federal Insurance Co., No. 16-8821, S.D. N.Y.).

  • March 18, 2019

    Judge Orders Turnover Of Registry Funds To Reinsurer In $3.2M Creditor Dispute

    SAN DIEGO — In a dispute over a $3.2 million judgment, a California federal judge on March 14 granted a reinsurer’s turnover motion and ordered $958,017.66 in funds in the court registry to be directed to the reinsurer as judgment creditor (Odyssey Reinsurance Co. v. Richard Keith Nagby, et al., No. 16-3038, S.D. Calif., 2019 U.S. Dist. LEXIS 42894).

  • March 18, 2019

    Class Certification Denied In Workers’ Comp Insurer’s Case Over Promissory Note

    LINCOLN, Neb. — A Nebraska federal judge on March 14 adopted a magistrate judge’s recommendation denying class certification in a workers’ compensation insurer’s dispute over a promissory note executed pursuant to a reinsurance participation agreement (RPA) (Applied Underwriters Inc. v. Top’s Personnel Inc., No. 15-90, D. Neb., 2019 U.S. Dist. LEXIS 41105).

  • March 15, 2019

    Judge Orders Insurer, Reinsurer To Arbitrate Lead Paint Loss Dispute

    HARRISBURG, Pa. — A Pennsylvania federal judge on March 14 compelled an insurer and its reinsurer to arbitrate their dispute regarding reinsurance coverage for lead paint losses arising in the Maryland area (Pennsylvania National Mutual Casualty Insurance Co. v. Everest Reinsurance Co., No. 18-mc-653, M.D. Pa., 2019 U.S. Dist. LEXIS 41285).

  • March 14, 2019

    Nicaraguan Insurer, Reinsurer Sued For Breach Of Contract, Fraud In Federal Court

    MIAMI — An insured filed a first amended complaint on March 7 in a Florida federal court, asserting claims for breach of contract, civil theft, unjust enrichment and fraud against the government of the Republic of Nicaragua, a Nicaraguan insurer and a reinsurer over denied coverage for a fire loss (Farouk Morales v. INISER Instituto Nicaraguense de Seguros y Reaseguros, et al., No. 18-24301, S.D. Fla.).

  • March 13, 2019

    Judge Denies Remand In Reinsurance Case Over Environmental Claims

    BOSTON — A Massachusetts federal judge on March 8 adopted a magistrate judge’s report and recommendation denying a request to remand a reinsurance case because the case is not parallel with another concerning environmental claims (Certain London Market Company Reinsurers v. Lamorak Insurance Co., No. 18-10534, D. Mass., 2019 U.S. Dist. LEXIS 38909).

  • March 13, 2019

    Judge Denies Dismissal Of Breach Of Policy Case Against Life Insurer

    NEW YORK — Denying a life insurer’s motion to dismiss, a New York federal judge on March 12 found that personal jurisdiction exists over a lawsuit alleging breach of policies by the unlawful increase of the premium costs to recoup costs associated with an acquisition (Derek Fan v. PHL Variable Life Insurance Co., No. 18-01288, S.D. N.Y., 2019 U.S. Dist. LEXIS 39655).

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