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Preview: LexisNexis® Mealey's™ Reinsurance Legal News

LexisNexis® Mealey's™ Reinsurance Legal News



Headline Reinsurance Legal News from LexisNexis®



 



Suit To Recover Reinsurance Losses From E&O Insurer Remanded To Trial Court
TRENTON, N.J. - A New Jersey appellate panel on March 10 issued a nonprecedential ruling reversing and remanding the dismissal of a breach of contract case against an errors and omissions (E&O) insurer, finding that shareholders of a reinsurer who had sued the E&Q policyholder did not receive due process in a Bermuda case regarding challenges to the validity of the E&O policy (Robert D. Ferguson, et al. v. Travelers Indemnity Company, et al., No. A-0028-15T1, N.J. Sup., App. Div.).



Judge Orders Insurer, Reinsurer To Meet And Try To Settle Asbestos Dispute
UTICA, N.Y. - A federal judge in New York on Feb. 24 ordered an insurer and reinsurer to schedule a settlement conference after the judge ruled on the parties' motions to dismiss certain claims and which claims remain ready for trial (Utica Mutual Insurance Company v. Fireman's Fund Insurance Company, No. 09-cv-00853, N.D. N.Y.).



Judge Approves Extension So Reinsurance Program Parties Can Negotiate Settlement
NEW YORK - A federal judge in New York on March 3 granted a pleadings filing extension to parties to a reinsurance dispute so the parties can continue settlement discussions (AmTrust North America, Inc., et al. v. Safebuilt Insurance Services, Inc., et al., No. 14-cv-9494, S.D. N.Y.).



Judge Denies In Part Attempt By Reinsurers To Get Case Against Them Dismissed
NEW YORK - A federal judge in New York on March 9 denied in part a group of reinsurers' motion to dismiss claims brought by a group of insureds that allege that the reinsurers' profit-sharing scheme was designed to circumvent states' insurance laws (National Convention Services, LLC, et al. v. Applied Underwriters Captive Risk Assurance Company, Inc., et al., No. 15-cv-07063, S.D. N.Y.).



Judge Approves Request For Direct Payments From Reinsurer To Insured
HARRISBURG, Pa. - A Pennsylvania judge on March 8 approved an arrangement under which a reinsurer will make direct payments to a policyholder of an insolvent insurer (In re: Reliance Insurance Company in Liquidation, No. 1 REL 2001, Pa. Cmwlth.).



Surety Obligates Itself To Pay Judgment To Liquidator In Reinsurance Dispute
NEW YORK - A surety told a federal court in New York on Feb. 14 that it has agreed to obligate itself to cover the possible judgment of a breach of contract case brought against the reinsurer by the liquidator of an insolvent insurer (Roger A. Sevigny, the Commissioner of Insurance of the State of New Hampshire, as Liquidator of The Home Insurance Company v. Trygvesta Forsikring A/S, as successor in interest to Skandinavia Insurance Company Ltd., No. 16-cv-04874, S.D. N.Y.).



Reinsured Says Crimes Asserted Against Executive Do Not Affect Arbitration Award
NEW YORK - An insurer on March 6 told a federal court in New York that the conviction of the insurer's chief operating officer on unrelated charges has no bearing on a dispute with a reinsurer over the confirmation or vacatur of an arbitration award (Certain Underwriting Members at Lloyd's, London v. Insurance Company of the Americas, No. 16-cv-00323, S.D. N.Y.).



Reinsurer Says Not All Issues Regarding Settlement Of Asbestos Claims Are Known
NEW HAVEN, Conn. - A reinsurer told a federal court in Connecticut on March 6 that there are genuine issues of material fact still to be resolved in an asbestos reinsurance dispute and, therefore, summary judgment is not warranted (Travelers Casualty and Surety Company, f/k/a The Aetna Casualty and Surety Company v. Century Indemnity Company as successor to Insurance Company of North America, No. 16-cv-00170, D. Conn.).



Insurer Says Information Party Wants Sealed Was Disclosed In Recent Decision
SYRACUSE, N.Y. - A nonparty insurer told a federal court in New York on March 7 that portions of the materials that an insurer in a reinsurance dispute wants to be placed under seal were publicly aired in a recent decision in a related case (Utica Mutual Insurance Company v. Munich Reinsurance America, Inc., No. 12-cv-00196, and Munich Reinsurance America, Inc. v. Utica Mutual Insurance Company, No. 13-cv-00743, N.D. N.Y.).



Insurer, Reinsurer Stipulate To Dismissal Of Asbestos Reinsurance Case
SYRACUSE, N.Y. - An insurer and its reinsurer agreed to the dismissal of their asbestos-related breach of contract dispute in a federal court in New York on March 15 (Utica Mutual Insurance Company v. R&Q Reinsurance Company, No. 13-cv-01332, N.D. N.Y.).



Reinsurers Sue Insurer For Indemnification Of Securities Probes
NEW YORK - A group of reinsurance companies and individuals sued an insurer in a New York state court on March 10, seeking indemnification from the insurer for various governments' financial department investigations (Beechwood Re Holdings, Inc., et al. v. Starr Indemnity & Liability Company, No. 651263/2017, N.Y. Super., New York Co.).



Judge Dismisses Declaratory Judgment Claim In Asbestos Reinsurance Case
UTICA, N.Y. - A federal judge in New York on Feb. 24 dismissed a reinsured's claim for declaratory judgment regarding asbestos reinsurance obligations because the claim is duplicative of the relief sought in the reinsured's breach of contract claim (Utica Mutual Insurance Company v. Fireman's Fund Insurance Company, No. 09-cv-00853, N.D. N.Y.).



ACA Reinsurance Program Applies To State Employers, 6th Circuit Affirms
CINCINNATI - The Patient Protection and Affordable Care Act (ACA)'s reinsurance program applies to state employers, the Sixth Circuit U.S. Court of Appeals affirmed Feb. 17 (The State of Ohio, et al. v. United States of America, et al., No. 16-3093, 6th Cir., 2017 U.S. App. LEXIS 2844).



Judge Approves Rate Of Compensation For Party-Appointed Arbitrator
CHICAGO - An Illinois judge on Feb. 16 approved the rate of pay for an arbitrator representing an insolvent insurer in a dispute with three reinsurers (In the matter of the liquidation of Legion Indemnity Co., No. 02 CH 06695, Ill. Cir., Cook Co., Chanc. Div.).



2nd Circuit Ends $7.8M Appeal Of Reinsurance Judgment Debtor
NEW YORK - The Second Circuit U.S. Court of Appeals on Feb. 21 acknowledged a stipulation and ended the appeal of a judgment debtor that opposed a $7.8 million lower court ruling against it (AmTrust North America, Inc. and Technology Insurance Company, Inc., as judgment creditors of Pacific Re, Inc. on behalf of its protected cell Pac Re 5-AT v. Safebuilt Insurance Services Inc., No. 16-4070, 2nd Cir.).



Judge Approves Reinsurance Commutation Agreement For Insolvent Insurer
CHICAGO - An Illinois judge on Feb. 16 approved the commutation of certain reinsurance contracts covering third-party construction defect claims in an agreement between a reinsurer and an insolvent insurer (In the matter of the liquidation of Legion Indemnity Co., No. 02 CH 06695, Ill. Cir., Cook Co., Chanc. Div.).



Liquidator Wants Reinsurance Commutation Agreement Approved
CONCORD, N.H. - The liquidator of an insolvent insurer on Feb. 6 asked a New Hampshire court to approve a confidential reinsurance commutation agreement with two London based reinsurers (In the Matter of the Liquidation of The Home Insurance Company, No. 03-E-0106, N.H. Sup., Merrimack Co.).



London Market Reinsurers Say Arbitration Witness Was Convicted Of Fraud
NEW YORK - A group of London market reinsurers on Feb. 20 brought to the attention of a federal court in New York that the lead witness in a reinsurance arbitration has recently been convicted of conspiracy and securities and wire fraud (Certain Underwriting Members at Lloyd's, London v. Insurance Company of the Americas, No. 16-cv-00323, S.D. N.Y.).



Nonparty Insurer Says Summary Judgment Documents Should Not Be Sealed
SYRACUSE, N.Y. - A nonparty insurer on Feb. 13 asked a federal court in New York to deny an insurer's motion to seal certain documents and said that if the court seals the documents from the public, it should not seal them from the nonparty insurer (Utica Mutual Insurance Company v. Munich Reinsurance America, Inc., No. 12-cv-00196, and Munich Reinsurance America, Inc. v. Utica Mutual Insurance Company, No. 13-cv-00743, N.D. N.Y.).



Insurer, Reinsurer Stipulate To Dismissal Of Asbestos Reinsurance Case
SAN FRANCISCO - An insurer and a reinsurer told a federal court in California on Feb. 22 that they want to close their asbestos personal injury related reinsurance dispute with prejudice (The American Insurance Co. v. R&Q Reinsurance Co., No. 16-3044, N.D. Calif.).



Liquidator Wants Reinsurer To Pay Workers' Compensation Policyholder Directly
HARRISBURG, Pa. - The liquidator of the insolvent Reliance Insurance Co. asked a Pennsylvania court on Feb. 23 to approve an agreement under which a policyholder would receive direct payments from one of Reliance's reinsurers (In re: Reliance Insurance Co. in liquidation, No. 1 REL 2001, Pa. Cmwlth.).



Liquidator Asks Court To Approve Multiple Insurance Guarantor Claims
CONCORD, N.H. - The liquidator of an insolvent insurer on Feb. 2 asked a New Hampshire court to approve his recommendations for allowance of claims to various states' insurance guaranty associations and a number of reinsurers (In the Matter of the Liquidation of The Home Insurance Company, No. 03-E-0106, N.H. Sup., Merrimack Co.).



Judge Orders European Reinsurer To Proceed With Arbitration Of Dispute
NEW YORK - A federal judge in New York on Feb. 7 granted an insurer's motion to stay a $5.4 million reinsurance dispute and compel a European reinsurer to the arbitration table, holding that the reinsurer cannot avoid an arbitration clause in a reinsurance agreement by arguing that the reinsurance agreement is void (HDI Global SE v. Lexington Insurance Company, No. 16-cv-07241, S.D. N.Y.).



Judge Assures Confidentiality Of Material In Asbestos- Related Reinsurance Case
PHILADELPHIA - A federal judge in Pennsylvania in a reinsurance dispute over asbestos-related claims granted on Feb. 2 an insurer's unopposed motion for the issuance of a protective order regarding confidential information (R&Q Reinsurance Company v. St. Paul Fire & Marine Insurance Company, No. 16-cv-01473, E.D. Pa.).



Judge Denies Objection, Says Magistrate Judge's Discovery Order Was Proper
SALT LAKE CITY - A federal judge in Utah on Feb. 13 denied an insolvent insurer's objection to a magistrate judge's order compelling discovery of certain categories of information sought by a group of the insolvent insurer's former directors and officers (Western Insurance Company v. Dick L. Rottman, et al., No. 13-cv-00436, D. Utah, 2017 U.S. Dist. LEXIS 20709).



Justice Approves Reinsurance Commutation Agreement For Insolvent Insurer
CONCORD, N.H. - A New Hampshire justice on Feb. 10 approved an insolvent insurer's reinsurance commutation agreement, which involves the insolvent insurer as both reinsurer and reinsured (In the Matter of the Liquidation of The Home Insurance Company, No. 03-E-0106, N.H. Sup., Merrimack Co.).



Liquidator Asks Court To Approve Direct Payments From Reinsurer To Insured
HARRISBURG, Pa. - The liquidator of an insolvent insurer asked a Pennsylvania court on Feb. 3 to approve a cut-through arrangement by which a reinsurer will make direct payments to an insured, leaving the liquidation estate out of the transactions (In re: Reliance Insurance Company in Liquidation, No. 1 REL 2001, Pa. Cmwlth.).



Circuit Court Dockets Appeal Of Mortgage Insurance Reinsurance Kickbacks Case
PHILADELPHIA - The Third Circuit U.S. Court of Appeals on Dec. 22 docketed the appeal of a group of mortgage borrowers challenging a lower court ruling that their mortgage insurance reinsurance kickback claims were time-barred (William Weiss, et al. v. Bank of America Corporation, et al., No. 16-4368, 3rd Cir.).



Reinsurer Says It Was Not Obligated To Follow The Fortunes Of Its Reinsured
NEW YORK - A reinsurer told the Second Circuit U.S. Court of Appeals on Feb. 1 that a lower court judge erred in finding that the reinsurer was obligated to pay its reinsured under the follow-the-fortunes or follow-the-settlement doctrine (Utica Mutual Insurance Company v. Clearwater Insurance Company, No. 16-cv-2824 and Utica Mutual Insurance Company v. Clearwater Insurance Company, No. 16-2535, 2nd Cir.).



Insurer, Reinsurer Agree To End Reinsurance Breach Of Contract Case
SYRACUSE, N.Y. - An insurer and its reinsurer told a federal court in Massachusetts on Jan. 4 that they are ending their reinsurance billing dispute and breach of contract case (OneBeacon America Insurance Company v. Transatlantic Reinsurance Company, No. 14-cv-14067, D. Mass.).



Reinsured Wants Summary Judgment Against Reinsurer In Breach Of Contract Case
NEW HAVEN, Conn. - A reinsured insurer told a federal court in Connecticut on Jan. 23 that there are no genuine issues of material fact that should stop the court from issuing a summary judgment order regarding the insurer's breach of contract and other claims against its reinsurer (Travelers Casualty and Surety Company, f/k/a The Aetna Casualty and Surety Company v. Century Indemnity Company as successor to Insurance Company of North America, No. 16-cv-00170, D. Conn.).



Assignee Asks 7th Circuit To Reverse Lower Court Finding Regarding Timeliness
CHICAGO - The assignee of certain reinsurance receivables rights challenging a lower court's finding that its claims against a reinsurer are untimely told the Seventh Circuit U.S. Court of Appeals on Jan. 31 that the lower court erred, among other reasons, because it issued a summary judgment on allegedly disputed issues of material fact (Pine Top Receivables of Illinois, LLC v. Banco De Seguros Del Estado, No. 16-3499, 7th Cir.).