Mealey's Reinsurance
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July 21, 2021
TRO Remains In Effect; Appeal Stay Should Too, Bermuda Reinsurer Tells 2nd Circuit
NEW YORK — In a July 16 status letter, a Bermuda reinsurer notified the Second Circuit U.S. Court of Appeals that its appeal related to the confirmation of a $524 million arbitration award issued in favor of a Puerto Rico life insurer in a dispute over alleged improper asset divestments for a reinsurance trust should remain stayed because a temporary restraining order in the reinsurer’s bankruptcy proceeding remains in effect.
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July 20, 2021
9th Circuit Asked To Expedite 2nd Suit Testing Conservatorship Of Insurer
SAN FRANCISCO — An appeal contesting a federal judge in California’s dismissal of allegations that state regulators abused their authority by actions including obtaining a conservatorship against a workers’ compensation insurance carrier must be hastened or the appeal will not be completed before the conservation is lifted, the appellant told the Ninth Circuit U.S. Court of Appeals in a July 19 motion to expedite.
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July 19, 2021
Federal Judge Says Evidence Of Insurer’s Reinsurance Is Prejudicial To Insurer
ST. LOUIS — A Missouri federal judge on July 16 granted an insurer’s motion in limine to preclude evidence of its reinsurance in a long-running coverage dispute over liability for injuries and property damages sustained as the result of the insured’s lead-smelting operations after determining that allowing evidence regarding the insurer’s available reinsurance poses a high risk of prejudice to the insurer.
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July 15, 2021
Oral Arguments Scheduled On Insurer’s Motion For Attorney Fees Against Reinsurer
NEW YORK — A New York federal magistrate judge on July 1 scheduled oral arguments for July 19 on an umbrella insurer’s motion seeking almost $400,000 in attorney fees and costs in a dispute with an English reinsurer over responsibility for an environmental claims settlement.
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July 15, 2021
Reinsured Is Entitled To Select New Arbitrator, Federal Judge Says
SAN FRANCISCO — A California joint powers authority is entitled to select a new arbitrator, a California federal judge said July 12 after determining that the authority’s arbitrator is not qualified to serve as an arbitrator in the arbitration of a dispute involving two reinsurance certificates issued to the authority.
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July 14, 2021
Auto Dealer, Reinsurer Deny Breach Of Contract Allegations In Answer
LAFAYETTE, Ind. — An automotive dealership and a reinsurer in a July 6 answer to a complaint deny allegations that the dealership breached a contract and is liable for paying back more than $1 million loaned to the dealership and guaranteed by the reinsurer.
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July 14, 2021
Judge Dismisses Asbestos, Reinsurance Suit Following Conclusion Of Arbitration
NEW YORK — A New York federal judge on July 8 dismissed a reinsurance suit over asbestos loss billings after the parties notified the court that the parties’ arbitration proceeding had concluded.
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July 14, 2021
New York Justice Reiterates That Suit Against Excess-Of-Loss Insurer Is Time-Barred
RIVERHEAD, N.Y. — A New York justice on June 9 denied a motion for reargument filed by a trust seeking coverage under an excess-of-loss insurance policy for a workers’ compensation claim that exceeded the insured’s self-insured retention after again determining that the insured’s breach of contract suit is barred by the applicable six-year statute of limitations.
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July 14, 2021
Insurer, Reinsurer Seek Dismissal Of Suit Following Completion Of Arbitration
RIVERSIDE, Calif. — Following the completion of an arbitration proceeding between an insurer and a reinsurer over $8.6 million in equipment breakdown claims, the parties on June 24 filed a stipulation of dismissal in a California federal court.
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July 14, 2021
Reinsurer Seeks To Seal Unredacted Version Of Answer In Asbestos Coverage Suit
TRENTON, N.J. — A reinsurer contends in a July 1 motion to seal its unredacted answer to a fourth amended complaint in a dispute over indemnification for asbestos bodily injury claims that sealing the unredacted portions of its answer is warranted because the unredacted version contains information about a confidential settlement agreement.
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July 14, 2021
Judge Allows Settling Insurer To Withdraw Funds In Excess Collateral Reinsurance Suit
MINNEAPOLIS — A Minnesota federal magistrate judge on June 24 entered an order permitting a settling insurer to withdraw funds it deposited in an interpleader suit over excess collateral in an insurance-reinsurance program.
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July 14, 2021
Reinsurer Says Insurer Will Not Be Prejudiced If Motion To Amend Is Granted
MONTGOMERY, Ala. — A reinsurer claims in a July 7 reply in support of its motion for leave to file a second amended answer and counterclaim in a breach of contract dispute over reinsurance billings that its motion should be granted because there was no undue delay in its request for leave to amend.
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July 13, 2021
Florida Federal Magistrate Judge Denies Reinsurer’s Motion For Attorney Fees
TAMPA, Fla. — A Florida federal magistrate judge on July 9 denied a reinsurer’s motion for attorney fees in a breach of contract dispute after determining that an award of attorney fees is not warranted while an appeal filed by the self-insured intergovernmental risk management association is pending.
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July 02, 2021
Court Enters Judgment For 1 Insolvent Insurer In ACA Risk-Corridor Funds Suit
WASHINGTON, D.C.— The U.S. Court of Federal Claims on June 28 entered a $45,417,643.02 judgment for a subclass that consists of one insolvent insurer in insolvent insurers’ lawsuit seeking a declaratory judgment that the U.S. government owes them millions of dollars under the Patient Protection and Affordable Care Act (ACA) risk-corridor program.
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June 30, 2021
Reinsurer Says Attorney Fees Are Warranted In Breach Of Contract Dispute
TAMPA, Fla. — A reinsurer argues in a June 22 reply brief that it is entitled to an award of attorney fees under Florida law because it made offers of judgment to the self-insured intergovernmental risk management association and obtained a judgment of no liability to the association.
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June 30, 2021
Bermuda Reinsurer Says Court Does Not Have Jurisdiction To Hear ERISA Dispute
WASHINGTON, D.C. — A reinsurer argues in a June 25 reply brief in support of its motion to dismiss that a District of Columbia federal court should dismiss an Employee Retirement Income Security Act lawsuit seeking damages for a company’s alleged failure to make $934 million in withdrawal liability payments to a pension plan because the district court does not have personal jurisdiction over the reinsurer as the reinsurer has had no operations or contacts with the United States since 2016 and no American board members or officers since 2017.
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June 30, 2021
Judge Allows Auto Dealer, Reinsurer Additional Time To Answer Complaint
LAFAYETTE, Ind. — An Indiana federal magistrate judge on June 16 entered a note on the court docket, granting an automotive dealership and a reinsurer’s motion for extension of time to answer a complaint alleging that the dealership and reinsurer are liable for paying back more than $1 million loaned to the dealership and guaranteed by the reinsurer.
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June 30, 2021
Cooperative Says Reinsurers Must Reimburse It For Settling Sexual Abuse Lawsuits
SEATTLE — A Washington interlocal cooperative that represents various public school districts filed suit in a Washington state court on June 21, seeking a declaration that two of its reinsurers must reimburse it for costs incurred in defending and settling three underlying sexual abuse lawsuits filed against a member school district.
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June 30, 2021
Judge Orders Parties To Update Court On Arbitration In Asbestos, Reinsurance Case
NEW YORK — A New York federal judge on June 16 ordered the parties involved in a reinsurance dispute over asbestos loss billings to submit a joint letter updating the court on the status of the parties’ arbitration proceeding.
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June 30, 2021
Stay Of Appeal Should Remain In Effect, Bermuda Reinsurer Tells 2nd Circuit
NEW YORK — In a June 18 status letter, a Bermuda reinsurer notified the Second Circuit U.S. Court of Appeals that its appeal related to the confirmation of a $524 million arbitration award issued in favor of a Puerto Rico life insurer in a dispute over alleged improper asset divestments for a reinsurance trust should remain stayed because a temporary restraining order in the reinsurer’s bankruptcy proceeding remains in effect.