Mealey's Reinsurance
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June 30, 2021
Texas Federal Judge Dismisses Insurance Agent, Reinsurer’s Clawback Premium Suit
FORT WORTH, Texas — A Texas federal judge on June 15 granted a motion to dismiss a suit filed by an insurance agent against a reinsurer and involving a dispute over clawback premium payments after the parties notified the court of a settlement and filed a joint motion to dismiss the suit with prejudice.
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June 30, 2021
Judge Denies Reinsurer’s Motion To Strike, Says Information Is Relevant
TRENTON, N.J. — A New Jersey federal judge on June 23 denied a motion to strike filed by a reinsurer in a dispute over indemnification for asbestos bodily injury claims under facultative reinsurance agreements after determining that the reinsurer will not be prejudiced if information pertaining to the reinsurer’s successor remains in the insurer’s counterclaims.
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June 28, 2021
Reinsurer Failed To Clearly Assert Claims In Dispute Over Debt, Judge Determines
SAN DIEGO — A California federal judge on June 24 granted a motion to dismiss filed by defendants in a dispute over a debt allegedly owed under a series of reinsurance agreements after determining that the reinsurer failed to clearly allege specific claims against the defendants in its complaint.
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June 24, 2021
Judge Orders Nonprofit Municipal Insurer To Respond To Reinsurer’s Motion To Amend
MONTGOMERY, Ala. — An Alabama federal judge on June 22 ordered a nonprofit municipal insurer to respond by June 30 to a reinsurer’s motion for leave to file a second amended answer and counterclaim in a breach of contract dispute over reinsurance billings submitted to the reinsurer by the nonprofit municipal insurer.
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June 24, 2021
Parties Stipulate To Judgment For 1 Insolvent Insurer In ACA Risk-Corridor Funds Suit
WASHINGTON, D.C. — The U.S. government and a class of insolvent insurers on June 17 filed a stipulation to enter a $45,417,643.02 judgment for a subclass that consists of one insolvent insurer in the insurers’ lawsuit seeking declaratory judgment that the government owes them millions of dollars under the Patient Protection and Affordable Care Act (ACA) risk-corridor program.
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June 22, 2021
Railroad Company, Reinsurer Ordered To File Supplemental Briefs On Additional Claims
SPRINGFIELD, Ill. — An Illinois federal magistrate judge on June 17 directed parties in a suit filed by a railroad company seeking injunctive relief over reinsurer Illinois Mine Subsidence Insurance Fund’s (IMSIF) pursuit of reimbursement as subrogee for mine subsidence claims to file supplemental briefs to determine whether the court has subject matter jurisdiction over the claims asserted by the railroad company in an amended complaint.
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June 16, 2021
French Reinsurer, Insurance Group Settle Dispute Over Failed Takeover Attempt
PARIS — A settlement has been reached between a French reinsurer and a French insurance group following a dispute over a failed takeover attempt by the French insurance group, according to a June 10 press release issued by the companies.
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June 16, 2021
Final Pretrial Conference Held In Asbestos, Reinsurance Coverage Dispute
ALBANY, N.Y. — A final pretrial conference in a suit between an insurer and a reinsurer over whether defense costs paid on behalf of an insured for asbestos liabilities are covered under the reinsurer’s policies was held June 9 before a New York federal judge.
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June 16, 2021
Reinsurer Permitted To Respond To Self-Insured’s Argument Against Attorney Fees
TAMPA, Fla. — A Florida federal judge on June 9 granted a reinsurer’s motion to file a reply brief in support of its motion for attorney fees and to rebut the self-insured intergovernmental risk management association’s argument that attorney fees are not permitted in the instant breach of contract case where no monetary damages were sought.
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June 16, 2021
New York Federal Judge Confirms Arbitration Awards Entered Against Reinsurer
NEW YORK — A New York federal judge on May 26 confirmed an interim award and a final award entered by an arbitration panel in favor of an insurer and against a reinsurer in a dispute over reinsurance billings submitted to the reinsurer under an excess casualty variable quota share reinsurance agreement.
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June 16, 2021
Parties File Stipulation Of Dismissal In Excess Collateral Reinsurance Suit
MINNEAPOLIS — Following a settlement between two parties involved in an interpleader suit over excess collateral in an insurance-reinsurance program, the settling parties filed a stipulation of dismissal in Minnesota federal court.
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June 16, 2021
Reinsurer Tells 2nd Circuit Stay Of Appeal Should Remain In Effect
NEW YORK — In a June 1 letter to the Second Circuit U.S. Court of Appeals, a reinsurer informed the court that a stay of its appeal should remain in effect as the district court has not yet ruled on the insurer’s motion to amend or correct the district court’s ruling and for prejudgment interest.
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June 15, 2021
Hearing Set On Reinsurers’ Motion To Permanently Seal 4th Amended Complaint
TRENTON, N.J. — A New Jersey federal court on June 9 scheduled a July 6 hearing on a motion by reinsurers to file an unredacted fourth amended complaint under permanent seal in a dispute regarding the insurers’ handling of payments for underlying asbestos claims and indemnification sought by the insurers under facultative reinsurance agreements.
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June 14, 2021
Federal Judge Grants Government’ Request In Dispute Over ACA Risk-Corridor Funds
WASHINGTON, D.C. — A federal judge on June 11 granted the U.S. government’s request to be given 14 days until after the Federal Circuit U.S. Court of Appeals’ decision in Michael Conway v. The United States becomes final to respond substantively to a dispute subclass of insolvent insurers’ notice of supplemental authority in support of their motion to dismiss the government’s counterclaims for setoff, breach of statutory and regulatory duties in their lawsuit seeking declaratory judgment that the government owes them millions of dollars under the Patient Protection and Affordable Care Act (ACA) risk-corridor program.
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June 11, 2021
Reinsurer Says Arbitrator Must Decide If Time To Submit Claim Has Expired
DETROIT — A reinsurer’s motion to dismiss a health and life insurer’s complaint seeking indemnity for more than $950,000 under a medical excess reinsurance agreement must be granted because an arbitrator must decide whether the time to submit a claim to arbitration has expired, the reinsurer says in its June 10 reply in support of its motion filed in Michigan federal court.
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June 11, 2021
Reinsurer Permitted To Amend Answer, Add Counterclaim In Municipal Billings Dispute
MONTGOMERY, Ala. — An Alabama federal judge on June 11 granted a reinsurer’s motion to amend its answer to add a declaratory judgment counterclaim related to two additional reinsurance billings submitted by a nonprofit municipal insurer after determining that the amendment will help to resolve the claims at issue between the parties.
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June 08, 2021
2nd Circuit Affirms ERISA Case Dismissal For Lack Of Standing Based On Thole
NEW YORK — Home health aides lack standing under the Employee Retirement Income Security Act to challenge the management of their employee benefit plan because winning or losing on their ERISA claims would not change their health benefits, the Second Circuit U.S. Court of Appeals ruled June 7, affirming a New York federal judge’s dismissal of the aides’ putative class suit against their employers and a captive reinsurer based on the June 2020 U.S. Supreme Court decision Thole v. U.S. Bank N.A.
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June 03, 2021
Plaintiffs Say Securities Class Action Complaint Shows False Statements Made
CAMDEN, N.J. — A motion to dismiss filed by a reinsurer and former officers in a securities class action pending in New Jersey federal court must be denied because the complaint adequately shows that the defendants made false and misleading statements when they failed to disclose adverse historical loss results, the plaintiffs contend in a May 24 supplemental brief in opposition to the motion to dismiss.
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June 03, 2021
Stay In Excess Collateral Reinsurance Suit Lifted For Limited Purpose
MINNEAPOLIS — Following the notification of a settlement between two parties involved in an interpleader suit over excess collateral in an insurance-reinsurance program, a Minnesota federal magistrate judge on June 1 issued a text-only order lifting a stay in the suit for the limited purpose of allowing the parties to file dismissal papers and to file a motion related to interpleaded funds attributable to one of the parties involved in the settlement.
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June 02, 2021
Trustees Say Jurisdiction Exists Over Bermuda Reinsurer In ERISA Dispute
WASHINGTON, D.C. — A Bermuda reinsurance and insurance company’s “continuous and systematic contacts” with the United States allow the U.S. District Court for the District of Columbia to exercise personal jurisdiction over the reinsurer in an Employee Retirement Income Security Act lawsuit seeking damages for the company’s alleged failure to make $934 million in withdrawal liability payments to a pension plan, the pension plan trustees argue in a May 26 opposition to the reinsurer’s renewed motion to dismiss.