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Mealey's Reinsurance

  • October 11, 2018

    Insurer Denies Contractual Indemnification Allegations Asserted By Bank

    COLUMBIA, S.C. — In an Oct. 1 brief in South Carolina federal court, an insurer denies allegations asserted in a contractual indemnification counterclaim by a bank being sued for its role as trustee of a reinsurance trust for an insolvent insurer (Accident Insurance Company Inc. v. U.S. Bank National Association, et al., No. 16-2621, D. S.C.).

  • October 11, 2018

    Judge Grants Reinsurer’s Claim For Interpleader In Case Over Periodic Payments

    MILWAUKEE — In a dispute over periodic payments, a Wisconsin federal judge on Sept. 26 granted a reinsurer’s claim for interpleader and awarded $4,000 to the reinsurer in attorney fees (American General Life Insurance Co. v. Amanda Hebard, et al., No. 18-654, E.D. Wis.).

  • October 8, 2018

    Reinsurance Intermediaries Seek Document Production In Negligence Lawsuit

    OKLAHOMA CITY — Reinsurance intermediaries in a Sept. 26 motion ask that an Oklahoma federal court compel an insolvent insurer’s receiver to produce a settlement agreement regarding an underlying action as it relates to the receiver’s lawsuit alleging negligence in reinsurance services provided to the insurer (Oklahoma, et al. v. Axiom Re LP, et al., No. 17-0484, W.D. Okla.).

  • October 8, 2018

    Reinsurers Seek Confirmation Of Arbitration Award For Sexual Molestation Claims

    BOSTON — Underwriters subscribing to reinsurance contracts in an Oct. 1 petition request that a Massachusetts federal court confirm an arbitration award regarding sexual molestation losses asserted against a reinsured’s policyholder, Boy Scouts of America (BSA) (Certain Underwriters at Lloyd’s London v. Century Indemnity Co., No. 18-12041, D. Mass.).

  • October 4, 2018

    Insurer: Jurisdiction Exists To Hear Breach Of Contract Case Against Reinsurer

    MIAMI — In a Sept 27 opposition to an excess reinsurer’s motion to dismiss, an international health insurer argues that a Florida federal court has subject matter jurisdiction over the insurer’s breach of contract lawsuit (VIP Universal Medical Insurance Group Ltd. v. BF&M Life Insurance Company Ltd., et al., No. 17-24633, S.D. Fla.).

  • October 4, 2018

    Plaintiff: No Ruling On Merits Of Breach Of Contract Case Against Reinsurers

    WASHINGTON, D.C. — In seeking leave to file an amended complaint to recover a $26 million arbitration award, a financial services company argues in a Sept. 17 reply brief that a District of Columbia federal judge did not previously issue a decision on the merits of its case because the judge held only that he lacked personal jurisdiction over reinsurers (Vantage Commodities Financial Services I, LLC v. Assured Risk Transfer PCC, LCC, et al., No. 17-01451, D. D.C.).

  • October 4, 2018

    Reinsurer, Insurer Agree To Discovery Plan In Breach Of Contract Case

    DETROIT — In a breach of contract dispute over coverage for asbestos claims, a reinsurer and insurer on Sept. 14 submitted to a Michigan federal court their agreed-upon discovery plan (Amerisure Mutual Insurance Co. v. Transatlantic Reinsurance Co., No. 18-11966, E.D. Mich.).

  • September 24, 2018

    COMMENTARY: Authority Of An Arbitration Panel To Order Confidentiality And A Hold Harmless

    By Debra J. Hall and Robert M. Hall

  • October 4, 2018

    Reinsurer Seeks Judgment On Late Notice Issue In Trucking Accident Case

    NEW YORK — In a Sept. 13 motion for summary judgment, a reinsurer argues to a New York federal court that its cedent breached the reinsurance contract by failing to timely notify the reinsurer of an underlying dispute involving a trucking accident (Endurance Assurance Corp. v. Florists’ Mutual Insurance Co., et al., No. 16-09955, S.D. N.Y.).

  • October 4, 2018

    Reinsurer, Insurer Settle New York Federal Case Over Asbestos Claims

    SYRACUSE, N.Y. — A reinsurer and insurer have settled their dispute over coverage for underlying asbestos claims, according to a New York federal judge’s Sept. 18 order (Utica Mutual Insurance Co. v. R&Q Reinsurance Co., No. 15-270, N.D. N.Y.).

  • October 2, 2018

    U.S. High Court Denies Petitions In Reinsurance Participation Agreement Suit

    WASHINGTON, D.C. — In breach of contract disputes over reinsurance participation agreements (RPA), the U.S. Supreme Court on Oct. 1 denied petitions asking whether a choice-of-law clause imports “state substantive law without importing state rules impairing arbitration” or whether the clause incorporates “both state substantive law and state arbitration principles” (Applied Underwriters Captive Risk Assurance Company Inc. v. Citizens of Humanity, et al., No. 18-174; Applied Underwriters Inc., et al. v. Citizens of Humanity, et al., No. 18-175, U.S. Sup.).

  • October 1, 2018

    Reinsurance Underwriters Ask For Contract To Be Declared Void Ab Initio

    BALTIMORE — In a Sept. 26 complaint filed in a Maryland federal court, underwriters subscribing to a facultative reinsurance certificate seek a declaration that a reinsurance contract is void ab initio based on insurers’ failure to disclose certain information in their application (Certain Interested Underwriters at Lloyd’s London, subscribing to the facultative reinsurance certificate 2017100003409 v. American Casualty Company of Reading, Pa., et al., No. 18-02972, D. Md.).

  • September 28, 2018

    Judge Permits Fraud Claim To Continue Against Life Insurer In Cost Dispute

    BALTIMORE — A Maryland federal judge on Sept. 25 allowed a fraud claim to proceed in a dispute over a life insurer’s alleged hiding of its financial status under captive reinsurance schemes and the insurer’s cost of insurance (COI) rate increases (Leslie S. Rich v. William Penn Life Insurance Company of New York, No. 17-2026, D. Md., 2018 U.S. Dist. LEXIS 165057).

  • September 28, 2018

    Judge Addresses Motions In Dispute Between Insurer, Reinsurer Over Asbestos Losses

    UTICA, N.Y. — In a dispute between a primary insurer and a reinsurer over settlements of asbestos claims, a New York federal judge on Sept. 26 denied summary judgment to the parties on various issues but dismissed the insurer’s extracontractual claims (Utica Mutual Insurance Co. v. Century Indemnity Co., No. 13-995, N.D. N.Y., 2018 U.S. Dist. LEXIS 165110).

  • September 27, 2018

    Claims Against Reinsurer Dismissed Based Upon Forum Selection Clause

    GOSHEN, N.Y. — A New York justice on Sept. 24 dismissed claims against a reinsurer and its affiliates based upon a Nebraska forum selection clause in a reinsurance participation agreement (RPA) (Milmar Food Group II LLC, et al. v. Applied Underwriters Inc., et al., No. EF003101-2017, N.Y. Sup., Orange Co., 2018 N.Y. Misc. LEXIS 4100).

  • September 26, 2018

    Reinsurer’s Liability Is Expense-Supplemental, 2nd Circuit Finds

    NEW YORK — Because a reinsurer’s obligations under reinsurance contracts follow an insurer’s expense‐supplemental obligations under umbrella policies, the Second Circuit U.S. Court of Appeals ruled Sept. 25 that the reinsurer’s liability is expense‐supplemental (Utica Mutual Insurance Co. v. Clearwater Insurance Co., Nos. 16-2535 & 16-2824, 2nd Cir., 2018 U.S. App. LEXIS 27311).

  • September 26, 2018

    Reinsurer Says No Fact Issues On Its Status As Creditor In Breach Case

    SAN DIEGO — In a California federal court case over breached reinsurance agreements from fraudulent transfers, a reinsurer in a Sept. 21 summary judgment reply brief says an insurance broker’s former owners fail to present a genuine disputed material fact as to the reinsurer’s status as a creditor (Odyssey Reinsurance Co. v. Richard Keith Nagby, et al., No. 16-3038, S.D. Calif.).

  • September 26, 2018

    Insurer Says Breach Of Policy Claims Do Not Arise Out Of Activities In New York

    NEW YORK — In seeking to dismiss a New York federal court case alleging breach of policies by unlawful increase of premium costs to recoup costs associated with an acquisition, a life insurer argues on Sept. 21 that the plaintiffs’ claims do not arise out of specific business activities in New York (Derek Fan, et al. v. Phoenix Life Insurance Co., et al., No. 18-01288, S.D. N.Y.).

  • September 25, 2018

    Bank Seeks Contractual Indemnification Against Insurer Over Trustee Role

    COLUMBIA, S.C. — A bank sued for its role as trustee of a reinsurance trust for an insolvent insurer on Sept. 20 responded to an insurer’s first amended complaint in a South Carolina federal court and counterclaimed for contractual indemnification (Accident Insurance Company Inc. v. U.S. Bank National Association, et al., No. 16-2621, D. S.C.).

  • September 25, 2018

    Judge Dismisses Claims In Breach Of Contract Case Over Reinsurance Contracts

    NEW YORK — A New York federal judge on Sept. 20 issued a stipulation of dismissal without prejudice to certain claims in a breach of contract lawsuit regarding claims under facultative reinsurance contracts for losses of $2.5 million (Continental Insurance Company of New Jersey, et al. v. National Union Fire Insurance Company of Pittsburgh, PA, No. 18-4715, S.D. N.Y.).