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Preview: LexisNexis® Mealey's™ Reinsurance Legal News

LexisNexis® Mealey's™ Reinsurance Legal News



Headline Reinsurance Legal News from LexisNexis®



 



Magistrate Judge Declines To Amend Discovery Ruling In Reinsurance Fraud Scheme
BALTIMORE - In an alleged life insurance fraud scheme that shifted debt to reinsurers, a Maryland federal magistrate judge on Nov. 7 refused to amend a discovery order that a life insurer is to submit life insurance policies affected by a cost of insurance (COI) and within the 2004-2015 time range (Richard Dickman, et al. v. Banner Life Insurance Co., No. 16-192, D. Md., 2017 U.S. Dist. LEXIS 161545).



Financial Services Company Says It Has Right To Recover $26M Award From Reinsurers
WASHINGTON, D.C. - In a breach of contract lawsuit, a financial services company argues in a Nov. 3 opposition brief to the District of Columbia federal court that it has a right to recover a $26 million arbitration award directly from reinsurers (Vantage Commodities Financial Services I, LLC v. Assured Risk Transfer PCC, LCC, et al., No. 17-01451, D. D.C.).



Bank Argues Affirmative Defenses Against Claims Over Reinsurance Trust Mishandling
COLUMBIA, S.C. - In response to negligence and breach of contract claims against a bank for its role as trustee of a reinsurance trust with an insolvent insurer, the bank asserts affirmative defenses in a Nov. 2 answer and counterclaim in South Carolina federal court (Accident Insurance Company Inc. v. U.S. Bank National Association, et al., No. 16-2621, D. S.C., 2017 U.S. Dist. LEXIS 159628).



Farming Co-Op Argues Benefits Of Paying To Members Premium Rebates In Reinsurance Years
CINCINNATI - Explaining the financial benefits of an agricultural cooperative to members, a farming cooperative argues in a Nov. 6 reply brief to the Sixth Circuit U.S. Court of Appeals that it did not lose status as an entity approved to make premium-rebate payments for 2005, 2006 or 2007 reinsurance years after its merger with a nongrandfathered cooperative (Sunrise Cooperative Inc. v. U.S. Department of Agriculture, et al., No. 17-3807, 6th Cir.).



Insurers Oppose Discovery Extension In Fraudulent Transfer Suit Against Reinsurer
ATLANTA - Insurers in a Nov. 9 brief oppose a request from a reinsurer and its shareholders to extend the discovery period and expert report deadlines in a dispute in a Georgia federal court over allegedly fraudulent transfers of reinsurance funds (Canal Insurance Co., et al. v. Golden Isles Reinsurance Company Ltd., et al., No. 15-03331, N.D. Ga.).



New York Federal Judge Grants Insurer, Reinsurer's Fact Discovery Extension
NEW YORK - In a reinsurance coverage dispute for a trucking accident, a New York federal judge on Nov. 2 granted an extension for an insurer and a reinsurer on a discovery deadline because a dispute remains in the underlying action concerning any interest owed by the insurer (Endurance Assurance Corp. v. Florists' Mutual Insurance Co., et al., No. 16-09955, S.D. N.Y.).



Judge Extends Deadline On Class Certification Motion To Allow Discovery Completion
PHILADELPHIA - In a dispute over an alleged kickback insurance premium scheme involving insurers, reinsurers and lenders, a Pennsylvania federal judge on Nov. 9 granted a joint stipulation and order to extend deadlines pertaining to a class certification motion to allow homeowners to complete relevant discovery and document production (Nelson White Jr., et al. v. The PNC Financial Services Group Inc., et al., No. 11-7928, E.D. Pa., 2017 U.S. Dist. LEXIS 135743).



Insurers Oppose Reinsurer's Shareholder Bid To Intervene In Fraudulent Transfers Suit
ATLANTA - In a dispute over alleged fraudulent transfers of reinsurance funds, insurers in a Nov. 7 response oppose a reinsurer's shareholder's motion to intervene in the Georgia federal court case because the shareholder knew about it for months but delayed in filing her motion (Canal Insurance Co., et al. v. Golden Isles Reinsurance Company Ltd., et al., No. 15-03331, N.D. Ga.).



Insurer Briefs Federal Court On Trial Issues In Dispute With Reinsurer
UTICA, N.Y. - In a dispute against a reinsurer over a $325 million settlement of asbestos claims, an insurer in an Oct. 31 letter argues to a New York federal court that it should exclude evidence regarding any of its disputes with other reinsurers and when other reinsurers received notice (Utica Mutual Insurance Co. v. Fireman's Fund Insurance Co., No. 09-00853, N.D. N.Y.).



Virgin Islands Federal Judge Discharges Liquidator Of Insolvent Insurer
ST. THOMAS, Virgin Islands - A Virgin Islands federal judge on Nov. 3 discharged an insurance commissioner as liquidator of an insolvent insurer and ordered $400,000 of unclaimed funds awarded to the Division of Banking and Insurance, Office of the Lieutenant Governor, to cover administrative costs incurred during the liquidation (Osbert E. Potter, et al. v. Phoenix Fire and Marine Insurance Company Ltd., et al., No. 1991-271, D. Virgin Islands, 2017 U.S. Dist. LEXIS 182663).



Federal Agency Did Not Breach Contract To Reinsured Farm, 9th Circuit Concludes
SAN FRANCISCO - A federal agency did not act in breach of contract or misrepresent itself to a reinsured agricultural business by declining to divulge information about an investigation against a federal crop insurer before the farm signed a settlement that led to criminal charges, the Ninth Circuit U.S. Court of Appeals ruled Oct. 23 (POCO LLC v. Farmer's Crop Insurance Alliance Inc., No. 16-35310, 9th Cir., 2017 U.S. App. LEXIS 20853).



Judge Issues Stipulations In Reinsurer, Liquidator's Breach Of Contract Suit
NEW YORK - A New York federal judge on Sept. 26 granted stipulations agreed upon by a reinsurer and the liquidator of The Home Insurance Co. with regard to claims and other issues in a dispute over reinsurance proceeds allegedly owed to the insurer's estate (Roger A. Sevigny v. Trygvesta Forsikring A/S, Trygvesta Forsikring A/S v. Cerberus Holding Company LLC., No. 16-04874, S.D. N.Y.).



Judge Dismisses Attempt To Invalidate Reinsurance Participation Agreement
SACRAMENTO, Calif. - Insureds failed to allege a specific intent to defraud in a workers' compensation insurance program, a California federal judge ruled Oct. 17, also denying the insureds' attempt to invalidate a reinsurance participation agreement (RPA) (Shasta Linen Supply Inc. v. Applied Underwriters Inc., et al., Nos. 16-00158 & 16-01211, E.D. Calif., 2017 U.S. Dist. LEXIS 172638).



Judge Sends Negligence Suit Between Farmer, Insurers To Arbitration
NASHVILLE, Tenn. - A Tennessee federal judge on Oct. 18 issued a stay and ordered a farmer and two approved insurance providers (AIPs) to take a negligence lawsuit over actions leading to denied federal reinsured policies to arbitration (Ronald G. Driver v. Pro Ag Management Inc., et al., No. 16-01959, M.D. Tenn., 2017 U.S. Dist. LEXIS 172431).



Government: Farming Co-Op Lost Status To Pay Premium Rebates In Reinsurance Years
CINCINNATI - A farming cooperative lost its status as an entity approved to make premium-rebate payments for 2005, 2006 or 2007 reinsurance years after a merger with a nongrandfathered cooperative, government agencies assert in an Oct. 23 brief to the Sixth Circuit U.S. Court of Appeals (Sunrise Cooperative Inc. v. U.S. Department of Agriculture, et al., No. 17-3807, 6th Cir.).



Wisconsin Federal Judge: Insurer Breached Policy By Failing To Pay Fire Claim
MILWAUKEE - In a dispute where a state insurance fund argued that a policy above its own was reinsurance, a Wisconsin federal judge ruled Oct. 31 that an insurer breached an agreement with the fund by failing to pay a fire claim (State of Wisconsin Local Government Property Insurance Fund v. Lexington Insurance Co., et al., No. 15-142, E.D. Wis., 2017 U.S. Dist. LEXIS 180096).



Insurers: 'Follow-The-Form' Provision Needs Concurrency With Insurance, Reinsurance
NEW YORK - The New York Court of Appeals on Oct. 19 accepted an amicus curiae brief by insurers arguing that the "follow-the-form" provision mandates concurrency between insurance and reinsurance in the context of expense coverage (Global Reinsurance Corporation of America v. Century Indemnity Co., No. CTQ-2016, 0005, N.Y. App., 2017 N.Y. LEXIS 3118).



Insurer Opposes Reinsurer's Bid For Exclusion Of Notice Argument, Expert Testimony
UTICA, N.Y. - In a dispute over a $325 million settlement of asbestos claims, an insurer in an Oct. 25 letter asks a New York federal court to deny a reinsurer's request to preclude a constructive notice argument, the use of prior court decisions and settlements and expert testimony (Utica Mutual Insurance Co. v. Fireman's Fund Insurance Co., No. 09-00853, N.D. N.Y.).



Magistrate Judge Sets Discovery Deadline In Reinsurance Dispute Over Promissory Note
LINCOLN, Neb. - In an Oct. 20 order, a Nebraska federal magistrate judge set the discovery deadline for Dec. 1 in a dispute over whether a reinsurer owes an insured $152,616.35 under a promissory note executed pursuant to a reinsurance participation agreement (RPA) (Applied Underwriters Inc. v. Top's Personnel Inc., No. 15-90, D. Neb.).



Insurer, Reinsurer Seek Fact Discovery Extension In New York Federal Suit
NEW YORK - In a reinsurance coverage dispute for a trucking accident, an insurer on Oct. 26 filed a letter with a New York federal court, seeking an extension for it and a reinsurer on a discovery deadline because a dispute remains in the underlying action concerning any interest owed by the insurer (Endurance Assurance Corp. v. Florists' Mutual Insurance Co., et al., No. 16-09955, S.D. N.Y.).



Reinsurer's Shareholder Seeks To Intervene In Suit Over Fraudulent Transfers
ATLANTA - A shareholder for a reinsurer moved on Oct. 24 in a Georgia federal court to intervene in a dispute over alleged fraudulent transfers of reinsurance funds or to consolidate the dispute with another lawsuit involving the same parties (Canal Insurance Co., et al. v. Golden Isles Reinsurance Company Ltd,, et al., No. 15-03331, N.D. Ga.).



Insurer, Reinsurer Seek Dismissal By Federal Court Of Injunctive Relief Claim
SAN DIEGO - An insurer and a reinsurer in a joint motion filed Oct. 25 ask a California federal court to dismiss a single claim for injunctive relief against the reinsurer in an action seeking payment of a $3.2 million judgment over alleged breach of reinsurance agreements as a result of a series of fraudulent transfers (Odyssey Reinsurance Co. v. Richard Keith Nagby, et al., No. 16-3038, S.D. Calif., 2017 U.S. Dist. LEXIS 165582).



Reinsurance Facultative Certificates Cover Defense Costs In Excess Of Cap
HARRISBURG, Pa. - Reinsurance facultative certificates covered defense expenses in excess of a liability cap, a Pennsylvania appeals panel ruled Oct. 17, affirming that insurers were entitled to interest on certain proofs of loss for asbestos claims issued before 2013 (Century Indemnity Co. v. OneBeacon Insurance Co., No. 1280 EDA 2016, Pa. Super., 2017 Pa. Super. LEXIS 806).



Insurer Cannot Recover Amounts Over 'Reinsurance Accepted' Limit, Panel Says
ROCHESTER, N.Y. - An insurer is not entitled to recover any amounts exceeding the "reinsurance accepted" amount set forth in reinsurance certificates, a New York appeals panel ruled Oct. 6 (Utica Mutual Insurance Co. v. Alfa Mutual Insurance Co., et al., No. 17-00305, N.Y. Sup., App. Div., 4th Dept., 2017 N.Y. App. Div. LEXIS 7064).



Judge Reverses Ruling On Yield Crop Exclusion For Reinsurance With FCIC
DENVER - A division of the U.S. Department of Agriculture improperly determined that a yield crop exclusion was not immediately available to farmers upon the passage of a farm bill for purposes of calculation in reinsurance coverage, a Colorado federal judge ruled Oct. 13 (Glenn Ausmus, et al. v. Sonny Perdue, et al., No. 16-01984, D. Colo., 2017 U.S. Dist. LEXIS 169305).



Judge Issues $3.2M Default Judgment In Favor Of Reinsurer In Fraudulent Transfer Dispute
SAN DIEGO - A California federal judge on Oct. 4 granted a reinsurer's request for a $3.2 million default judgment in a dispute over alleged breach of reinsurance agreements as a result of a series of fraudulent transfers (Odyssey Reinsurance Co. v. Richard Keith Nagby, et al., No. 16-3038, S.D. Calif., 2017 U.S. Dist. LEXIS 165582).



Judge Orders Insurer To Produce Claim Information In Reinsurance Fraud Case
ATLANTA - In a dispute over alleged fraudulent transfers of reinsurance funds, a Georgia federal judge on Oct. 6 ordered an insurer to produce information for each claim for which it has the claim date within six months of the start or end of a reinsurance agreement (Canal Insurance Co., et al. v. Golden Isles Reinsurance Company Ltd,, et al., No. 15-03331, N.D. Ga.).



Judge OKs Forbearance Agreement Between Reinsurer, Insurer In Arbitration Dispute
ATLANTA - A Georgia federal judge approved on Oct. 12 an amended forbearance agreement in a dispute between a Bermuda reinsurer and an insurer and administratively closed the case (TIG Insurance Co. v. Appalachian Reinsurance [Bermuda] Ltd., No. 17-02938, N.D. Ga.).



Dismissal Sought In Reinsurers' RICO, Breach Of Contract Dispute Over Alleged Scheme
EL PASO, Texas - In a lawsuit alleging a scheme to take control over a dealership and to decline selling vehicle-protection products that are reinsured by the reinsurers, defendants argue in their Oct. 11 reply brief to a Texas federal court for dismissal in favor of a state probate court action (Richard C. Poe II, et al. v. Anthony E. Bock, et al., No. 17-00232, W.D. Texas).



Government: Jurisdiction Lacking In Liquidators' Suit Over Reinsurance Funds
COLUMBIA, S.C. - The U.S. government says in its Sept. 26 reply brief in a South Carolina federal court that liquidators for a failed South Carolina Patient Protection and Affordable Care Act (ACA) co-operative insurer failed to establish jurisdiction in their lawsuit alleging improper withholding of reinsurance payments from and setting off of debts owed by the government (Raymond G. Farmer, et al. v. United States of America, et al., No. 17-00956, D. S.C.).



Mortgagors, Reinsurer Assert 3rd Circuit Law Entitles Them To Judgment On RESPA Claim
PITTSBURGH - Mortgagors and a reinsurer in a mortgage insurance reinsurance scheme case tell a Pennsylvania federal court in an Oct. 6 reply brief that homeowners fail to offer reasoning as to why the mortgagors and reinsurer are not entitled to judgment on a Real Estate Settlement Procedures Act (RESPA) claim under Third Circuit U.S. Court of Appeals law (Linda Menichino, et al. v. Citibank, N.A., et al., No. 12-00058, W.D. Pa.).