Bank Says Insurer Was Already Paid For Damages Alleged For Reinsurance Funds Mishandling

Mealey's (September 12, 2017, 7:16 AM EDT) -- COLUMBIA, S.C. — In an Aug. 21 motion for summary judgment, a bank accused of mishandling reinsurance funds tells a South Carolina federal court that an insurer cannot recover damages because it was compensated for the assets in the trust accounts before the insurer filed its lawsuit (Companion Property and Casualty Insurance Co. v. U.S. Bank National Association v. Redwood Reinsurance Spc. Ltd., et al., No. 15-01300, D. S.C.)....