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Mealey's Reinsurance

  • September 19, 2023

    High Court Review Sought For Reverse-Preemption Ruling In Insurance Info Row

    WASHINGTON, D.C. — Arguing in part that the Third Circuit U.S. Court of Appeals removed “large pieces of insurance regulation from the purview of states, where it has long been placed and confirmed by the McCarran-Ferguson Act [MFA],” the Delaware Department of Insurance (DDOI) asked the U.S. Supreme Court to review a corporate privacy case involving microcaptive insurance company information.

  • September 19, 2023

    Remand To Florida Court Argued In Coverage Row Over Leased Aircraft

    MIAMI — Arguing in a reply brief that “in lawsuits between parties of different countries, there is no federal diversity jurisdiction,” plaintiffs in a coverage dispute over aircraft that a Russian airline refused to return after the invasion of Ukraine urge a Florida federal court to remand the case to Florida state court.

  • September 18, 2023

    Justice Denies Protective Order, Disqualification Bid In Reinsurance Row

    NEW YORK — Addressing two motions relating to an audit agreement, a New York justice denied both a liquidator’s request for a protective order regarding certain previously produced documents and reinsurers’ bid to disqualify the liquidator’s counsel.

  • September 18, 2023

    Parties File Joint Pretrial Stipulation In Row Over Reinsurance Distributor Deal

    MIAMI — Parties in a suit over the acquisition of a managed health care reinsurance distribution company have filed a joint pretrial stipulation in Florida federal court outlining their positions in advance of a bench trial.

  • September 15, 2023

    Unsecured Creditors In Vesttoo Chapter 11 Case Want To Conduct Discovery

    WILMINGTON, Del. — Arguing that it “is the only independent fiduciary capable of conducting a thorough and conflict-free investigation,” the Committee of Unsecured Creditors in the jointly administered Chapter 11 case of Vesttoo Ltd. and 48 affiliated entities on Sept. 14 asked a Delaware federal bankruptcy court for leave to conduct discovery.

  • September 15, 2023

    2nd Circuit Won’t Stay Bermuda Arbitration Pending Appeal Over Bias Allegation

    NEW YORK — A Second Circuit U.S. Court of Appeals panel has denied a motion it “construed as seeking to enjoin arbitration pending appeal” in a bid to replace one arbitrator in a proceeding concerning two reinsurance contracts between Bermuda-based entities.

  • September 15, 2023

    Claim Added In Coverage Dispute Over Loss Of Patent Litigation Counsel

    NASHVILLE, Tenn. — Mostly granting two motions, a Tennessee federal magistrate judge on Sept. 14 implemented the parties’ proposed schedule in a coverage dispute over loss of patent litigation counsel, also allowing the plaintiffs to add allegations and a promissory estoppel claim.

  • September 14, 2023

    Judge Rules For Government In Challenge Over Farming Practices Determination

    FARGO, N.D. — Saying a reconsideration determination that a farm didn’t follow good farming practices (GFP) was neither “arbitrary and capricious” nor “contrary to the substantial weight of the evidence,” a North Dakota federal judge granted summary judgment against the farm in a dispute stemming from a crop insurance policy reinsured by the government.

  • September 12, 2023

    ERISA-Imputed Withdrawal Liability Suit Is Dismissed On Jurisdictional Grounds

    WASHINGTON, D.C. — Rejecting objections filed by the trustees of a multiemployer pension plan and declining “to adopt a less rigorous standard for general personal jurisdiction,” a District of Columbia federal judge on Sept. 11 dismissed a lawsuit against a Bermuda insurance and reinsurance company over $934 million in withdrawal liability.

  • September 12, 2023

    Judicial Estoppel Bid Doesn’t Stop Transfer Of Reinsurer’s Breach Suit

    SAN FRANCISCO — Concluding that judicial estoppel doesn’t apply and a reinsurer failed to meet its “burden of showing why the court should not transfer the case to the agreed-upon forum,” a California federal judge granted the defendants’ motion to transfer the case involving allegations of a fraudulent scheme to inflate provisional commissions and breach of various agreements.

  • September 08, 2023

    Judge Rules For Reinsurer In Dispute Over Ultimate Net Loss Provision

    MONTGOMERY, Ala. — Agreeing with a reinsurer regarding interpretation of an ultimate net loss contract provision, an Alabama federal judge granted summary judgment against an insurer on a single breach of contract claim in a complex suit.

  • September 08, 2023

    1 Of Insurer’s 4 Suits Seeking Asbestos Settlement Reimbursement Is Dismissed

    OMAHA, Neb. — One suit that National Indemnity Co. (NICO) filed against reinsurers in Nebraska federal court over the insurer’s $157.2 million settlement with Montana regarding alleged asbestos exposures has been dismissed with prejudice because no defendants remain after a wave of stipulations.

  • August 31, 2023

    Wrangling Over Automatic Bankruptcy Stay Continues In Letter Of Credit Fallout

    WILMINGTON, Del. — Arguing that the filing of a Chapter 15 case violates a consent order, Chapter 11 debtor Vesttoo Ltd. and 48 affiliated entities on Aug. 30 asked a Delaware federal bankruptcy court to issue a contempt order and sanctions against Bermuda-based White Rock Insurance (SAC) Ltd. and “the putative joint provisional liquidators [JPLs] of segregated cells.”

  • August 30, 2023

    Bid For Non-Waiver And Clawback Order Fails In Microcaptive Summons Row

    TAMPA, Fla. — Saying in part that two cases where the Internal Revenue Service agreed to entry of an order pursuant to Federal Rule of Evidence 502(d) are “distinguishable,” a Florida federal magistrate judge on Aug. 29 denied an insurance consultancy’s motion for a non-waiver and clawback order regarding material produced in response to an IRS summons.

  • August 30, 2023

    3rd Circuit Affirms Rulings Against Insured In Greenhouse Coverage Lawsuit

    PHILADELPHIA — Upholding rulings in favor of a insurer and reinsurer in a dispute concerning an ozone system failure in a basil-growing greenhouse, a Third Circuit U.S. Court of Appeals panel on Aug. 29 said in part that the trial court did not abuse its discretion in finding two proposed witnesses to be unqualified.

  • August 30, 2023

    Defamation Claimed In 2nd Cross-Complaint Filed In Breach Suit

    LOS ANGELES — In the second cross-complaint filed in a lawsuit in California state court involving allegations that a claim should have been covered by reinsurance of a shared risk incentive pool, a managed services organization (MSO) and its CEO allege defamation.

  • August 29, 2023

    Joint Statement Filed In Coverage Row Over Jet Leased To Russian Operator

    SAN FRANCISCO — Plaintiffs in an international aviation insurance coverage dispute involving Russia’s invasion of Ukraine plan to initially focus depositions “on persons identified by the ‘War Risk’ insurers,” according to a filing in California state court.

  • August 29, 2023

    Appeal Of Dispute Over Arbitrator’s Firm’s Work For Reinsurer Is Dismissed

    SANTA ANA, Calif. — A California appellate case over confirmation of an arbitration panel’s ruling against a university was dismissed after the parties filed a joint notice of settlement and a stipulation for dismissal, the case docket shows.

  • August 28, 2023

    Discovery Row Outlined In Insurer’s Suit Over Alleged Fraud Scheme

    NEW YORK — An insurer that alleges it sustained losses exceeding $135 million due to “systematic breaches of fiduciary duty, fraud, and other misconduct” has asked a New York federal court for a discovery conference over disputes with four defendants, which argue in an Aug. 25 opposition that the request should be denied because “[g]ood cause exists to shift expenses of discovery.”

  • August 25, 2023

    Reinsurer Wins Permission To Seal 2 Agreements In Cleanup Costs Coverage Row

    PADUCAH, Ky. — A Kentucky federal magistrate judge on Aug. 24 granted a motion to seal a third-party administrative services agreement (ASA) and a reinsurance agreement, saying the entities involved have a compelling interest that “outweighs the public’s interest in accessing” the documents and that redaction would be “impractical.”

  • August 24, 2023

    Enforcement Of Automatic Bankruptcy Stay Sought For Foreign Proceedings

    WILMINGTON, Del. — Citing reports of litigation in Bermuda and Israel, Chapter 11 debtor Vesttoo Ltd. and 48 affiliated debtors moved in Delaware federal bankruptcy court for enforcement of the automatic stay against Bermuda-based White Rock Insurance (SAC) Ltd. and “the putative joint provisional liquidators [JPLs] of segregated cells.”

  • August 23, 2023

    Government Wins Partial Summary Judgment In False Claims Act Crop Case

    YAKIMA, Wash. — Saying disputes raised are supported only by one defendant’s declaration and “do not address the material facts,” a Washington federal judge granted summary judgment for the government on two counts asserted under the False Claims Act (FCA) in a crop insurance case.

  • August 22, 2023

    Parties In Reinsurance Row Dispute Bifurcating Declaratory Judgment Claim

    LOS ANGELES — Parties in a dispute over reinsurance billings have filed responses in a California court disagreeing on whether a declaratory judgment claim should be bifurcated, with the plaintiff saying it does not object to bifurcation and the defendants opposing bifurcation but saying it would be appropriate for the court to decide some factual issues before a jury trial.

  • August 21, 2023

    Judge Won’t Reconsider Procedural Holding In ACA Reinsurance Row

    WASHINGTON, D.C. — A U.S. Court of Federal Claims judge on Aug. 18 denied a reconsideration motion for her procedural holding that the plaintiffs in a lawsuit over the Transitional Reinsurance Program (TRP) of the Patient Protection and Affordable Care Act (ACA) had waived an argument.

  • August 17, 2023

    Reinsurer Seeks Leave To Seal Agreements In Cleanup Costs Coverage Row

    PADUCAH, Ky. — Arguing that “the agreements are riddled with the sensitive competitive information,” a reinsurer in a coverage dispute filed an unopposed motion in Kentucky federal court seeking leave to seal redacted versions of a third-party administrative services agreement (ASA) and a reinsurance agreement.