WASHINGTON, D.C. — Denying reconsideration of an earlier ruling, a District of Columbia federal judge on Jan. 17 allowed a financial service company to proceed on breach of an implied-in-fact contract, promissory estoppel and unjust enrichment claims against reinsurers in a dispute over a $26 million arbitration award (Vantage Commodities Financial Services I, LLC v. Assured Risk Transfer PCC, LCC, et al., No. 17-01451, D. D.C., 2019 U.S. Dist. LEXIS 8059).
SPRINGFIELD, Ill. — An Illinois federal magistrate judge on Jan. 16 granted in part several motions to exclude expert testimony regarding a corporate status issue in a reinsurance coverage dispute over payment for mine subsidence damages (Illinois Mine Subsidence Insurance Fund v. Union Pacific Railroad Co., No. 17-3199, C.D. Ill., 2019 U.S. Dist. LEXIS 7355).
HONOLULU — After a second amended complaint alleging unfair or deceptive acts or practices in the placement of insurance through “illegal kickback or captive reinsurance arrangements” was dismissed in part, a homeowner, on behalf of herself and others, on Jan. 15 filed a third amended complaint in a Hawaii federal court (Julia Wieck v. CIT Bank, N.A., et al., No. 16-00596, D. Hawaii).
KANSAS CITY, Kan. — Insurance and investment companies filed separate motions on Jan. 14 to dismiss Racketeer Influenced and Corrupt Organizations (RICO) Act and unjust enrichment claims in a Kansas federal court action alleging that they depleted life insurers’ surplus assets by reinsuring risks with one another rather than using “arm’s-length reinsurance treaties” (Albert Ogles v. Security Benefit Life Insurance Co., et al., No. 18-02265, D. Kan.).
JAMAICA, N.Y. — In a case addressing whether reinsurance participation agreements (RPAs) are illegal and unlawful, a New York justice on Nov. 14 allowed defendants to assert a counterclaim seeking damages for breach of the RPAs and policies and a declaration that the RPAs are valid, enforceable contracts (The Energy Conservation Group LLC, et al. v. Applied Underwriters Inc., et al., No. 710762 2015, N.Y. Sup., Queens Co., 2018 N.Y. Misc. LEXIS 6746).
LINCOLN, Neb. — A note holder to a promissory note executed pursuant to a reinsurance participation agreement (RPA) in a Jan. 11 filing opposes a request in Nebraska federal court for class certification of a nationwide class of employers who purchased unlawful workers’ compensation insurance programs and signed related promissory notes because the counterclaims are not typical of a class (Applied Underwriters Inc. v. Top’s Personnel Inc., No. 15-90, D. Neb.).
NEW YORK — An investor on Jan. 11 joined other motions seeking to dismiss a fraud and conspiracy lawsuit filed in a New York federal court by the liquidators for two hedge funds concerning allegations that the funds with a net asset value of nearly $1 billion turned out not only to be insolvent but also to have liabilities between $400 million and $800 million (Martin Trott, et al. v. Platinum Management [NY] LLC, et al., No. 18-10936, S.D. N.Y.).
BALTIMORE — Underwriters subscribing to a facultative reinsurance certificate in a Jan. 11 filing oppose a request to compel arbitration or dismiss their Maryland federal court lawsuit seeking 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.).
RICHMOND, Va. — In a dispute over billings for a workers’ compensation program, the Fourth Circuit U.S. Court of Appeals affirmed Jan. 14 that a reinsurance participation agreement (RPA) is an insurance contract for purposes of Virginia Code Section 38.2-312 (Minnieland Private Day School v. Applied Underwriters Captive Risk Assurance Company Inc., 17-2385, 4th Cir., 2019 U.S. App. LEXIS 1188).
DENVER — A Colorado federal judge on Jan. 9 stayed an insured’s lawsuit over the alleged failure to comply with a universal life policy’s terms pending a reinsurer’s appeal on the denial of its motion to intervene (Robert Barnes v. Security Life of Denver Insurance Co., No. 18-718, D. Colo., 2019 U.S. Dist. LEXIS 4037).
NEW YORK — Regarding coverage for alleged breaches of securities lending agreements, a bank and an insurer accuse underwriters on Dec. 21 in a New York federal court of breaching a reinsurance contract (Wells Fargo Bank N.A., et al. v. Lloyd’s Syndicate AGM 2488, et al., No. 18-12122, S.D. N.Y.).
CONCORD, N.H. — Insurers filed an amended complaint on Jan. 7 adding additional reinsurers as defendants in their breach of contract lawsuit in a New Hampshire federal court in which they seek to recover $22 million in outstanding reinsurance billings (United States Fire Insurance Co., et al. v. Equitas Insurance Ltd., et al., No. 18-01205, D. N.H.).
PORTLAND, Ore. — In a health insurer’s Oregon federal court lawsuit seeking to recover $1.8 million for losses, a reinsurer in a Jan. 7 answer denies allegations that it breached a reinsurance contract (Moda Health Plan Inc. v. Swiss Re Life & Health America Inc., No. 18-01917, D. Ore.).
NEW YORK — In a dispute over the alleged mismanagement and misuse of $320 million, a run-off insurer’s second amended complaint should be dismissed, a reinsurer and its entities argue in a Jan. 7 motion in a New York federal court because the run-off insurer fails to sufficiently allege claims arising out of a breach of fiduciary duty and fraud (Senior Health Insurance Company of Pennsylvania v. Beechwood Re Ltd., et al., No. 18-6658, S.D. N.Y.).
DENVER — In a lawsuit over the alleged failure to comply with a universal life policy’s terms, an insured argues in a Jan. 4 opposition that he would be prejudiced if a life insurer’s request to stay a Colorado federal court case pending a reinsurer’s appeal on the denial of its motion to intervene was granted (Robert Barnes v. Security Life of Denver Insurance Co., No. 18-718, D. Colo.).
NEW YORK — An insurer and reinsurer notified a New York federal judge on Jan. 4 that arbitration panel deliberations in their $3.85 million reinsurance dispute involving underlying workers’ compensation losses will be postponed (In re arbitration between National Union Fire Insurance Company of Pittsburgh, PA v. Federal Insurance Co., No. 16-8821, S.D. N.Y.).
NEW YORK — In a reinsurance dispute involving a trucking accident, a reinsurer on Jan. 3 asked that a New York federal judge reopen discovery in the case so that it can conduct depositions regarding an insurer’s calculation of alleged damages (Endurance Assurance Corp. v. Florists’ Mutual Insurance Co., et al., No. 16-09955, S.D. N.Y.).
NEW YORK — Pursuant to a retrocessional contract that covered ceded asbestos and pollution losses, a New York federal judge on Jan. 2 confirmed Continental Insurance Co.’s petition for an arbitration award requiring AXA Versicherung AG to pay $337,034, plus interest (Continental Insurance Co. v. AXA Versicherung AG, No. 18-7349, S.D. N.Y., 2019 U.S. Dist. LEXIS 583).
NEW YORK — After a New York federal judge’s dismissal of tort and quasi-contract claims against a reinsurer and its entities, a run-off insurer filed a second amended complaint on Dec. 28 in its dispute over the alleged mismanagement and misuse of $320 million (Senior Health Insurance Company of Pennsylvania v. Beechwood Re Ltd., et al., No. 18-6658, S.D. N.Y.).
CONCORD, N.H. — In a breach of contract New Hampshire federal court lawsuit filed Dec. 21, insurers seek to recover $20 million in outstanding reinsurance billings, as well as a declaration that reinsurers are obligated to pay their respective shares of those billings (United States Fire Insurance Co., et al. v. Equitas Insurance Ltd., et al., No. 18-01205, D. N.H.).