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Mealey's Reinsurance

  • April 3, 2019

    Protective Order Issued By Judge In Breach Of Contract Case Against Reinsurer

    DETROIT — In an insurer’s breach of contract case against a reinsurer over reinsurance billings for asbestos claims, a Michigan federal judge on April 1 issued a stipulated confidentiality agreement and protective order regarding confidential proprietary or trade secret information and information about insureds, including health in connection with their alleged asbestos exposure (Amerisure Mutual Insurance Co. v. Transatlantic Reinsurance Co., No. 18-11966, E.D. Mich.).

  • April 2, 2019

    Hedge Funds’ Liquidators File 2nd Amended Complaint Over Fraud

    NEW YORK — Two hedge funds’ liquidators filed a second amended complaint on March 29 after a New York federal judge previously dismissed claims for aiding and abetting breach of fiduciary duties, aiding and abetting fraud and unjust enrichment as to certain defendants (Martin Trott, et al. v. Platinum Management [NY] LLC, et al., No. 18-10936, S.D. N.Y.).

  • April 2, 2019

    Reinsurance Investment Company Sued For Refusing To Pay Incentive Payments

    BOSTON — A Bermuda reinsurance investment company and an affiliated company are accused in a March 28 first amended complaint filed in Massachusetts federal court of refusing to make incentive payments of $7.45 million to a former employee allegedly owed upon her termination of employment without cause (Alissa Fredricks v. Markel CATCo Investment Management Ltd., et al., No. 19-10331, D. Mass.).

  • April 1, 2019

    Judge Rules On Liability, Reimbursement Issues Between Reinsurer, Insurer

    SYRACUSE, N.Y. — A reinsurer is not liable for any additional monies to an insurer under a 1973 facultative reinsurance certificate, a New York federal judge held March 29, also finding that a voluntary payment doctrine bars the reinsurer from recovering loss and declaratory judgment expenses it has already paid the insurer under a 1977 facultative reinsurance certificate (Utica Mutual Insurance Co. v. Munich Reinsurance America Inc., Nos. 12-00196 & 13-00743, N.D. N.Y., 2019 U.S. Dist. LEXIS 53470).

  • March 29, 2019

    Panel Affirms Denial Of Reinsurer, Insurer’s Motion To Compel Arbitration

    SAN JOSE, Calif. — In a dispute regarding a program involving workers’ compensation insurance and a reinsurance participation agreement (RPA), a trial judge did not err in voiding an arbitration agreement included in a request to bind, a California appeals court held March 28, affirming denial of a motion to compel arbitration (Jackpot Harvesting Inc., et al. v. Applied Underwriters Inc., et al., No. H044953, Calif. App., 6th Dist., 2019 Cal. App. LEXIS 278).

  • March 28, 2019

    Rehabilitation Sought For Reinsurer By Delaware Insurance Commissioner

    WILMINGTON, Del. — The Delaware insurance commissioner on March 1 asked a state court to issue a rehabilitation order against reinsurer Scottish Re (U.S.) Inc. (SRUS) (Delaware ex rel. v. Scottish Re [U.S.] Inc., No. 2019-0175-AGB, Del. Chanc.).

  • 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.).