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Mealey's Reinsurance

  • 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.).

  • March 18, 2019

    Judge Orders Turnover Of Registry Funds To Reinsurer In $3.2M Creditor Dispute

    SAN DIEGO — In a dispute over a $3.2 million judgment, a California federal judge on March 14 granted a reinsurer’s turnover motion and ordered $958,017.66 in funds in the court registry to be directed to the reinsurer as judgment creditor (Odyssey Reinsurance Co. v. Richard Keith Nagby, et al., No. 16-3038, S.D. Calif., 2019 U.S. Dist. LEXIS 42894).

  • March 18, 2019

    Class Certification Denied In Workers’ Comp Insurer’s Case Over Promissory Note

    LINCOLN, Neb. — A Nebraska federal judge on March 14 adopted a magistrate judge’s recommendation denying class certification in a workers’ compensation insurer’s dispute over a promissory note executed pursuant to a reinsurance participation agreement (RPA) (Applied Underwriters Inc. v. Top’s Personnel Inc., No. 15-90, D. Neb., 2019 U.S. Dist. LEXIS 41105).

  • March 15, 2019

    Judge Orders Insurer, Reinsurer To Arbitrate Lead Paint Loss Dispute

    HARRISBURG, Pa. — A Pennsylvania federal judge on March 14 compelled an insurer and its reinsurer to arbitrate their dispute regarding reinsurance coverage for lead paint losses arising in the Maryland area (Pennsylvania National Mutual Casualty Insurance Co. v. Everest Reinsurance Co., No. 18-mc-653, M.D. Pa., 2019 U.S. Dist. LEXIS 41285).

  • March 14, 2019

    Nicaraguan Insurer, Reinsurer Sued For Breach Of Contract, Fraud In Federal Court

    MIAMI — An insured filed a first amended complaint on March 7 in a Florida federal court, asserting claims for breach of contract, civil theft, unjust enrichment and fraud against the government of the Republic of Nicaragua, a Nicaraguan insurer and a reinsurer over denied coverage for a fire loss (Farouk Morales v. INISER Instituto Nicaraguense de Seguros y Reaseguros, et al., No. 18-24301, S.D. Fla.).

  • March 13, 2019

    Judge Denies Remand In Reinsurance Case Over Environmental Claims

    BOSTON — A Massachusetts federal judge on March 8 adopted a magistrate judge’s report and recommendation denying a request to remand a reinsurance case because the case is not parallel with another concerning environmental claims (Certain London Market Company Reinsurers v. Lamorak Insurance Co., No. 18-10534, D. Mass., 2019 U.S. Dist. LEXIS 38909).

  • March 13, 2019

    Judge Denies Dismissal Of Breach Of Policy Case Against Life Insurer

    NEW YORK — Denying a life insurer’s motion to dismiss, a New York federal judge on March 12 found that personal jurisdiction exists over a lawsuit alleging breach of policies by the unlawful increase of the premium costs to recoup costs associated with an acquisition (Derek Fan v. PHL Variable Life Insurance Co., No. 18-01288, S.D. N.Y., 2019 U.S. Dist. LEXIS 39655).

  • March 13, 2019

    Judge Upholds Injunction In Favor Of Federally Reinsured Crop Insurer

    OMAHA, Neb. — A Nebraska federal judge on March 1 refused to alter a preliminary injunction in favor of a federally reinsured crop insurer, finding that an assignment, nonsolicitation and nondisclosure agreement “is very likely enforceable as a valid restriction on unfair competition” and that failure to enforce “would present a threat of irreparable harm” (Farm Credit Services of America FLCA v. Kathy Mens, No. 19-14, D. Neb., 2019 U.S. Dist. LEXIS 33527).

  • March 13, 2019

    Homeowners: Court Should Not Dismiss Lender-Placed Insurance Scheme Case

    TRENTON, N.J. — In a case 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, homeowners in a March 11 brief tell a New Jersey federal court that dismissal of his claims based upon the filed-rate doctrine would violate a longstanding principle that the filed-rate doctrine protects an insurer’s terms and conditions regarding the services provided to its customers that are covered by a tariff or filed-rate (Edward Leo v. Nationstar Mortgage LLC of Delaware, et al., No. 17-05839, D. N.J.).

  • March 12, 2019

    Bermuda Reinsurer Named In Securities Class Action In New Jersey Federal Court

    CAMDEN, N.J. — An investor filed a securities class action in New Jersey federal court on March 7 against a Bermuda-based holding company that provides reinsurance services through its subsidiaries regarding violations of the Securities Exchange Act of 1934 (John Dougan v. Maiden Holdings Ltd., et al., No. 19-08105, D. N.J.).

  • March 11, 2019

    Judge Denies Motion To Intervene By Reinsurer In Creditor’s $3.2M Case

    SAN DIEGO — A California federal judge on March 7 denied a reinsurer’s request to intervene in a creditor’s dispute over a $3.2 million judgment because the reinsurer’s motion was untimely and because the reinsurer had no significant protectable interest (Odyssey Reinsurance Co. v. Richard Keith Nagby, et al., No. 16-3038, S.D. Calif., 2019 U.S. Dist. LEXIS 37852).

  • March 11, 2019

    Insurance Fund: Judgment On Alter-Ego Claims Should Be Denied Based On Evidence

    SPRINGFIELD, Ill. — In a reinsurance coverage dispute in Illinois federal court over payment for mine subsidence damages, an insurance fund in a March 6 brief argues that a railroad company’s motion for judgment on alter-ego and de facto merger claims should be denied based on evidence and testimony presented at trial (Illinois Mine Subsidence Insurance Fund v. Union Pacific Railroad Co., No. 17-3199, C.D. Ill.).

  • March 8, 2019

    Workers’ Comp Insurer Asks Judge To Adopt Finding Denying Class Certification

    LINCOLN, Neb. — A workers’ compensation insurer on March 6 requested that a Nebraska federal court adopt a magistrate judge’s recommendation denying class certification in a dispute over a promissory note executed pursuant to a reinsurance participation agreement (RPA) (Applied Underwriters Inc. v. Top’s Personnel Inc., No. 15-90, D. Neb.).

  • March 7, 2019

    Risk Pool, Reinsurer File Summary Judgment Motions In Breach Of Contract Case

    TAMPA, Fla. — In a breach of contract dispute, a Florida self-insured intergovernmental risk management association and a reinsurer filed competing motions for summary judgment on March 4 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 6, 2019

    Company Asks Court To Reject Reinsurers’ Motion To Dismiss Or Arbitrate

    WASHINGTON, D.C. — A financial service company argues in a March 1 opposition brief in a District of Columbia federal court that reinsurers should be denied their request to dismiss or compel arbitration of its dispute over a $26 million arbitration award because the reinsurers fail to show that its amended complaint fails to state claims against them (Vantage Commodities Financial Services I, LLC v. Assured Risk Transfer PCC, LCC, et al., No. 17-01451, D. D.C.).

  • March 6, 2019

    Board Trustees Seek Denial Of Document Production In Disparagement Case

    TULSA, Okla. — Trustees of Oklahoma School Risk Management Trust (OSRMT) argue in a March 1 response that an Oklahoma federal court should not require them to produce certain documents in a lawsuit concerning 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.).