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Preview: LexisNexis® Mealey's™ Reinsurance Legal News

LexisNexis® Mealey's™ Reinsurance Legal News



Headline Reinsurance Legal News from LexisNexis®



 



Panel Upholds Denial Of Arbitration For Insolvent Insurer's Reinsurance Contract
CHICAGO - A trial judge properly invoked collateral estoppel to deny a motion to compel arbitration filed by an assigned entity to an insolvent insurer's reinsurance contract, an Illinois appeals panel ruled March 31 (Pine Top Receivables of Illinois LLC v. Transfercom Ltd., No. 1-16-1781, Ill. App., 6th Div., 2017 Ill. App. LEXIS 196).



Judge: Court Holds Rule Over Nonresidents In Reinsurance Case
ATLANTA - A federal judge in Georgia on April 13 denied a motion to dismiss claims regarding alleged fraudulent transfers of reinsurance funds for lack of jurisdiction, holding that the court does hold jurisdiction over a group of people that do not live in Georgia (Canal Insurance Company, et al. v. Golden Isles Reinsurance Company, Ltd, et al., No. 15-cv-3331, N.D. Ga.).



Clerk Notifies Parties That Inaction May Cause Dismissal Of Reinsurance Case
NEW HAVEN, Conn. - The clerk of a federal court in Connecticut on April 3 notified an insurer and an insolvent reinsurer that they must explain their inaction regarding a suit or the suit will be dismissed (Select Insurance Company v. Excalibur Reinsurance Corporation, f/k/a PMA Capital Insurance Company, No. 15-cv-00715, D. Conn.).



Judge Refuses To Quash Bank's Subpoena Over Financial Documents
COLUMBIA, S.C. - Finding that not all documents are privileged under the South Carolina Holding Company Regulatory Act, a South Carolina federal judge on April 10 declined to quash a subpoena in which a bank accused of mishandling reinsurance funds seeks an insurer's financial documents from state insurance regulators (Companion Property and Casualty Insurance Co. n/k/a Sussex Insurance Co. v. U.S. Bank National Association v. Redwood Reinsurance Spc. Ltd., et al., No. 15-01300, D. S.C., 2017 U.S. Dist. LEXIS 54182).



Reinsured Says Documents Sought By Reinsurer Have Nothing To Do With Case
BOSTON - An insurer told a federal court in Massachusetts on April 10 that the records sought by its reinsurer are irrelevant to the instant case and that by seeking these documents, the reinsurer is ignoring the tenants of the follow-the-settlements doctrine (Lamorak Insurance Company v. Everest Reinsurance Co., No. 15-cv-13425, D. Mass.).



Reinsurer Says Declaration Does Not Contradict Prior Testimony
NEW HAVEN, Conn. - A reinsurer told a federal court in Connecticut on April 10 that a declaration of one of its executives in support of a motion for summary judgment should not be stricken because it is not in contradiction of earlier testimony (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 It Is Challenging Decision That Favors Its Reinsurer
NEW YORK - An insurer told a federal court in New York on April 19 that it is appealing the court's decision that vacated a reinsurance arbitration award because of the actions of an arbitrator (Certain Underwriting Members at Lloyd's, London v. Insurance Company of the Americas, No. 16-cv-00323, S.D. N.Y.).



Reinsured Says Court Correctly Confirmed Reinsurance Arbitration Award
NEW HAVEN, Conn. - An insurer told a federal court in Connecticut on April 18 that a motion for reconsideration of the confirmation of an arbitration award should not be granted because there was no manifest injustice in the confirmation decision (General Re Life Corporation v. The Lincoln National Life Insurance Company, No. 15-cv-01860, D. Conn.).



Reinsurer: Cession Statement Essential To Consummation Of Reinsurance Agreement
PHILADELPHIA - A reinsurer told a federal court in Pennsylvania on April 11 that its reinsured is incorrect in its assertions regarding a cession statement, which the reinsurer says is an essential element of the parties' reinsurance agreement (R&Q Reinsurance Company v. St. Paul Fire & Marine Insurance Company, No. 16-cv-01473, E.D. Pa.).



Insurer Says Its Payment Of Asbestos Claims Was Reasonable
SYRACUSE, N.Y. - An insurer told a federal court in New York on April 7 that its payments to its insured were reasonable and that a reinsurer's challenge to those payments is contrary to the follow-the-fortunes doctrine (Utica Mutual Insurance Company v. Century Indemnity Company, No. 13-cv-00995, N.D. N.Y.).



Reinsurer Claims Reinsured Improperly Submitted New Evidence In Reply
NEW HAVEN, Conn. - A reinsurer told a federal court in Connecticut on April 10 that its reinsured should not be allowed to introduced new evidence in its summary judgment reply brief in a dispute over whether the reinsurer is obligated to honor the reinsured's settlement (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.).



Mortgage Insurance Reinsurer Says It Did Not Violate RESPA
CHICAGO - A mortgage insurance reinsurer told a federal court in Illinois on April 5 that it is not the party responsible for disclosing information to mortgagees as required by the Real Estate Settlement Procedures Act (RESPA) (People of the State of Illinois, ex rel., Acting Director of Insurance, Anne Melissa Dowling v. HMC Reinsurance Company, a Vermont Corporation, No. 16-cv-08156, N.D. Ill.).



Receiver Says Insolvent Insurer Owes London-Based Reinsurers For 2013 Premium
LAS VEGAS - The receiver of an insolvent insurer reported to a Nevada court on Feb. 15 that the receivership estate does not have enough assets to fully pay claims against the estate and owes money to certain London-based reinsurers (State of Nevada, ex rel. Commissioner of Insurance, in His Official Capacity as Statutory Receiver for Delinquent Domestic Insurer v. Professional Aviation Insurance Reciprocal, a Nevada Domiciled Reciprocal Captive Insurance Company, No. A-700829-p, Nev. Cir., Clark Co.).



Judge Orders Reinsurers To Pay Captive Reinsurance Program Participants
NEW YORK - A federal judge in New York on April 4 ordered a pair of reinsurers to pay participants to a captive reinsurance program $4 million plus pre- and post-judgment interest (AmTrust North America, Inc., et al. v. Pacific Re, Inc., et al., No. 17-cv-00515, S.D. N.Y.).



Judge Confirms Clarified Version Of Reinsurance Arbitration Award
NEW HAVEN, Conn. - A federal judge in Connecticut on March 31 granted a motion to confirm an arbitration award as clarified, noting that the original unclarified award was ambiguous (General Re Life Corporation v. The Lincoln National Life Insurance Company, No. 15-cv-01860, D. Conn., 2017 U.S. Dist. LEXIS 48860).



Judge: Relationship Involving Arbitrator Justifies Vacatur Of Award
NEW YORK - A federal judge in New York on March 31 vacated a reinsurance arbitration award because of an arbitrator's failure to disclose his relationships with one of the arbitrating parties (Certain Underwriting Members at Lloyd's, London v. Insurance Company of the Americas, No. 16-cv-00323, S.D. N.Y.).



Judge Deems Summary Judgment Motion In Reinsurance Dispute Withdrawn
SYRACUSE, N.Y. - A federal judge in New York on March 29 ordered that a reinsured's motion for summary judgment be withdrawn because a motion to seal certain supporting documents is currently under consideration (Munich Reinsurance America, Inc. v. Utica Mutual Insurance Company, No. 13-cv-00743, N.D. N.Y.).



Justice Approves Reinsurance Commutation Agreement Of Unspecified Amount
CONCORD, N.H. - A New Hampshire justice on March 13 approved a reinsurance commutation agreement between the liquidator of an insolvent insurer and two insolvent London-based reinsurers (In the Matter of the Liquidation of The Home Insurance Company, No. 03-E-0106, N.H. Sup., Merrimack Co.).



Reinsurer Says Insurer Never Asked For Policy To Be Reinsured
PHILADELPHIA - A reinsurer asked a federal court in Pennsylvania on March 21 to dismiss an insurer's breach of contract counterclaim because the insurer allegedly never linked an underlying policy to a facultative certificate and, therefore, there is no contract between the parties reinsuring that policy (R&Q Reinsurance Company v. St. Paul Fire & Marine Insurance Company, No. 16-cv-01473, E.D. Pa.).



Reinsured Says It Is Not Necessary To Show Reasons For Settling Asbestos Claims
NEW HAVEN, Conn. - An insurer told a federal court in Connecticut on March 20 that its reinsurer is putting requirements on it that are not universally accepted as necessary under the follow-the-settlements doctrine (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.).



Federal Court Clerk Certifies Alleged Reinsurer Is In Default
NEW YORK - The clerk of a federal court in New York on March 16 issued a certificate of default against a holding company that is allegedly responsible for obligations under certain facultative reinsurance contracts (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., Trygvesta Forsikring A/S v. Cerberus Holding Company, LLC., No. 16-cv-04874, S.D. N.Y.).



Reinsurer: Insurer Did Not Tell Of Trial Witnesses Until After End Of Discovery
SYRACUSE, N.Y. - A reinsurer asked a federal court in New York on March 17 for permission to file a letter motion asking the court to disqualify certain trial witnesses that were not revealed until after the end of discovery or, in the alternative, allow the reinsurer to depose the witnesses (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.).



Reinsurer Wants To Know Why Reinsured Allocated Asbestos Losses The Way It Did
BOSTON - A reinsurer asked a federal court in Massachusetts on March 24 to compel its reinsured to supply documents relating to the allocation of asbestos-related losses (Lamorak Insurance Company v. Everest Reinsurance Co., No. 15-cv-13425, D. Mass.).



Asbestos Reinsurance Dispute Parties Ordered To Meet For Settlement Conference
UTICA, N.Y. - A federal magistrate judge in New York on March 27 ordered parties to a reinsurance dispute to meet for a settlement conference with the magistrate judge (Utica Mutual Insurance Company v. Fireman's Fund Insurance Company, No. 09-cv-00853, N.D. N.Y.).



Insurer Relies On Follow-The- Fortunes Rule To Show Reinsurer Must Cover Claims
NEW YORK - An insurer told the Second Circuit U.S. Court of Appeals on April 3 that the language of certain reinsurance agreements are the same as if the agreements had specific follow-the-fortunes provisions (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.).



Liquidator Of Insolvent Insurers: Claims Against Reinsurer Are Sufficient
CHICAGO - The liquidator of a pair of insolvent insurers told a federal court in Illinois on March 22 that the claims she brings against a mortgage insurance reinsurer are sufficient to survive a motion to dismiss (People of the State of Illinois, ex rel., Acting Director of Insurance, Anne Melissa Dowling v. HMC Reinsurance Company, a Vermont Corporation, No. 16-cv-08156, N.D. Ill.).



Liquidator Of Insolvent Insurer Reports Collection Of $17M In Reinsurance
HARRISBURG, Pa. - The liquidator of an insolvent insurer submitted her report to a Pennsylvania court on March 28, outlining $17.2 million in reinsurance collections and other details (In re: Reliance Insurance Company in Liquidation, No. 1 REL 2001, Pa. Cmwlth.).



Justice Approves Liquidator's Claim Recommendations For Insurance Guarantors
CONCORD, N.H. - A New Hampshire justice on March 9 approved the recommendations of the liquidator of an insolvent insurer regarding certain states' insurance guaranty associations' claims and partial allowances of certain reinsurance claims (In the Matter of the Liquidation of The Home Insurance Company, No. 03-E-0106, N.H. Sup., Merrimack Co.).



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.).