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Preview: LexisNexis® Mealey's™ Reinsurance Legal News

LexisNexis® Mealey's™ Reinsurance Legal News



Headline Reinsurance Legal News from LexisNexis®



 



7th Circuit Affirms Lower Court Order Remanding Reinsurance Case
CHICAGO - A Seventh Circuit U.S. Court of Appeals panel on Sept. 1 affirmed a remand order from a lower court, noting that the reinsurance agreements at issue in the case have service of suit clauses that leave forum selection up to the reinsured (Pine Top Receivables of Illinois, LLC v. Transfercom, Ltd., No. 16-1073, 7th Cir.; 2016 U.S. App. LEXIS 16225).



Reinsurance Case Is Remanded For The 2nd Time
NEW YORK - A federal judge in New York on Sept. 6 remanded a reinsurance dispute, holding that the claims in a first amended complaint did not make allegations different enough from the original complaint to justify granting removal more than a year after the case was initially filed (R&Q Reinsurance Company v. Allianz Insurance Company, No. 16-cv-00794, S.D. N.Y.).



Judgment Creditors Say Court Holds Jurisdiction Over New York Foreign Insurer
NEW YORK - Parties that sued to enforce a $7.8 million judgment in their favor told a federal court in New York on Sept. 12 that the court holds jurisdiction over the party the judgment was against (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-cv-06033, S.D. N.Y.).



Reinsurer, Reinsured Outline Need For Discovery In Reinsurance Dispute
PHILADELPHIA - A reinsurer and its reinsured told a federal court in Pennsylvania on Sept. 7 that they both anticipate the need for discovery in a late notice dispute regarding asbestos-related reinsurance billings (R&Q Reinsurance Company v. St. Paul Fire & Marine Insurance Company, No. 16-cv-01473, E.D. Pa.).



Insurers Say Reinsurer Gave Away Its Assets To Avoid Paying Claims
ATLANTA - Two insurers told a federal court in Georgia on Aug. 22 that their alleged reinsurer deliberately distributed its assets to certain parties to avoid having to honor its reinsurance obligations (Canal Insurance Company, et al. v. Golden Isles Reinsurance Company, Ltd, et al., No. 15-cv-3331, N.D. Ga.).



Rehabilitator: Insurers In Rehabilitation Are Owed Funds In Reinsurance Trust
CHICAGO - A mortgage insurance reinsurer on Aug. 17 removed to a federal court in Illinois a case in which the rehabilitator of two insurers alleges that the reinsurer violated the Real Estate Settlement Procedures Act (RESPA) with alleged kickbacks to certain captive mortgage lenders affiliated with the reinsurer (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.).



Conservator Explains Status Of Cut-Through Reinsurance Endorsements
SAN FRANCISCO - The conservator of a property casualty insurer responded in a California court on Sept. 6 to certain objectors to his conservatorship plan and explained how cut through reinsurance endorsements would be handled in the plan (Dave Jones, Insurance Commissioner of the State of California v. CastlePoint National Insurance Company, and DOES 1-50, No. CPF-16-515183, Calif. Super., San Francisco).



Panel Says Ex Parte Communications Voided Reinsurance Arbitration Awards
DETROIT - The Sixth Circuit U.S. Court of Appeals on Aug. 18 reversed a lower court decision and vacated two reinsurance arbitration awards because of ex parte communications between an arbitrator and counsel of one of the parties (Star Insurance Company, et al. v. National Union Fire Insurance Company of Pittsburgh, PA and Star Insurance Company, et al. v. National Union Fire Insurance Company of Pittsburgh, PA, Nos. 15-1403 and 15-1490, 6th Cir.; 2016 U.S. App. LEXIS 15306).



Appeals Court Grants Dismissal Of Asbestos-Related Reinsurer Arbitration Row
NEW YORK - The Second Circuit U.S. Court of Appeals on Aug. 19 granted the stipulation of dismissal of an appeal between parties to an asbestos personal injury related reinsurance arbitration dispute (Arrowood Indemnity Co. v. Equitas Insurance Limited, et al., No. 15-2756, 2nd Cir.).



Insurer: Prospective Intervenor Should Not Be Allowed Into Arbitration Suit
NEW YORK - An insurer filed its opposition to a motion to intervene in a reinsurance arbitration dispute in a federal court in New York on Aug. 23, arguing that granting the intervention would undermine the purpose of arbitrating instead of litigating the underlying claims (Certain Underwriting Members at Lloyd's, London Subscribing to Treaty No. 0272/04 v. Insurance Company of the Americas, No. 16-cv-00374, S.D. N.Y.).



London Market Reinsurers Ask Court To Deny Motion To Intervene
NEW YORK - A group of London market reinsurers on Aug. 23 told a federal court in New York that it should not allow the alleged owner of a reinsured to intervene in a reinsurance arbitration dispute because the motion to intervene is untimely (Certain Underwriting Members at Lloyd's, London v. Insurance Company of the Americas, No. 16-cv-00323, S.D. N.Y.).



Nationwide Says There Is No Reason To Vacate Reinsurance Arbitration Award
NEW YORK - Nationwide Insurance Co., a party to a reinsurance agreement, told a federal court in New York on Aug. 25 that an arbitration panel umpire was not biased and there is no basis for vacating an arbitration award (Yosemite Insurance Company v. Nationwide Insurance Company, No. 16-cv-05290, S.D. N.Y.).



Alleged Party To Captive Reinsurance Agreement Moves To Dismiss $7.8M Case
NEW YORK - An alleged party to a captive reinsurance agreement told a federal court in New York on Aug. 29 that the court does not hold jurisdiction over it and cross-moved for the dismissal of a case brought to force the party to pay a judgment from another suit (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-cv-06033, S.D. N.Y.).



Reinsured Says Discovery Motion Should Be Denied
SYRACUSE, N.Y. - An insurer told a federal court in New York on Aug. 15 that the court should deny a discovery motion filed by a reinsurer because the discovery deadline has passed (Munich Reinsurance America Inc. v. Utica Mutual Insurance Company, No. 13-cv-00743, N.D. N.Y.).



Insurer: Nonparty Should Not Be Allowed To Intervene In Reinsurance Case
SYRACUSE, N.Y. - An insurer told a federal court in New York on Aug. 19 that another insurer has no right to intervene in a reinsurance dispute with the intention of challenging a motion to seal certain discovery documents (Utica Mutual Insurance Company v. Munich Reinsurance America, Inc., No. 12-cv-00196, N.D. N.Y.).



Reinsurer Answers Counterclaims, Says Reinsured Failed To Give Prompt Notice
PHILADELPHIA - A reinsurer told a federal court in Pennsylvania on Aug. 1 that it has no obligations under a pair of reinsurance agreements because its reinsured allegedly failed to supply prompt notice of certain underlying asbestos bodily injury claims that it was involved in as early as the 1980s (R&Q Reinsurance Company v. St. Paul Fire & Marine Insurance Company, No. 16-cv-01473, E.D. Pa.).



Liquidator Recommends Payment Allowance Of $12.7 Million In Reinsurance Claims
CONCORD, N.H. - The liquidator of the Home Insurance Co. filed a report and recommendation with a New Hampshire court on Aug. 18, outlining recommendations that include nearly $13 million in reinsurance payments (In the Matter of the Liquidation of The Home Insurance Company, No. 03-E-0106, N.H. Sup., Merrimack Co.).



Receivers Of Judgment Confirming Arbitration Award Ask To Be Paid
NEW YORK - Two reinsurance program participants that received a judgment confirming a reinsurance arbitration award sued a captive reinsurer in a federal court in New York on July 28, asking the court to order the captive reinsurer to honor the court's earlier judgment (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-cv-06033, S.D. N.Y.).



Reinsurer Tells Court It Will Appeal Order To Pay Reinsured Prejudgment Interest
ALBANY, N.Y. - A reinsurer told a federal court in New York on Aug. 12 that it intends to appeal to the Second Circuit U.S. Court of Appeals an order of the trial court that it pay $941,433 in prejudgment interest to its reinsured (Utica Mutual Insurance Co. v. Clearwater Insurance Co., No. 13-cv-1178, N.D. N.Y.).



Reinsurer Says California Federal Court Does Not Hold Jurisdiction Over It
SAN FRANCISCO - A reinsurer told a federal court in California on July 28 that its reinsured has not shown that the court holds specific jurisdiction over it in an asbestos-related reinsurance payment dispute (The American Insurance Company v. R&Q Reinsurance Company, No. 16-cv-03044, N.D. Calif.).



Alleged Owner Of Stock In Insurer Seeks To Intervene In Reinsurance Case
NEW YORK - The alleged owner of all voting shares in an insurer on Aug. 10 asked to intervene in a reinsurance arbitration dispute in a federal court in New York (Certain Underwriting Members at Lloyd's, London Subscribing to Treaty No. 0272/04 v. Insurance Company of the Americas, No. 16-cv-00374, S.D. N.Y.).



Judge Dismisses Reinsurance Arbitration Dispute Pursuant To Parties' Agreement
PHILADELPHIA - A federal judge in Pennsylvania on Aug. 11 dismissed a reinsurance arbitration dispute pursuant to an agreement between the parties (In the Matter of Arbitration Between Excalibur Reinsurance Corporation and Odyssey America Reinsurance Corporation, No. 10-mc-00195, E.D. Pa.).



Appeals Court Grants Voluntary Dismissal Of Appeal In Reinsurance Case
NEW YORK - The Second Circuit U.S. Court of Appeals on Aug. 5 granted the voluntary dismissal of an appeal of a clarification order issued in a reinsurance dispute (National Indemnity Company v. IRB Brasil Resseguros S.A., No. 16-1276, 2nd Cir.).



Judge Says Reinsurer May Make Direct Payments To Insurance Policyholder
HARRISBURG, Pa. - A Pennsylvania judge on Aug. 11 approved direct payments by a reinsurer to an insured of Reliance Insurance Company in Liquidation (In re: Reliance Insurance Company in Liquidation, No. 1 REL 2001, Pa. Cmwlth.).



Judge Approves Plan To Have Reinsurer Make Direct Payments To Insured
HARRISBURG, Pa. - A Pennsylvania judge on Aug. 11 granted the liquidator of Reliance Insurance Co.'s application to allow a reinsurer to make direct payments to a Reliance policyholder (In re: Reliance Insurance Company in Liquidation, No. 1 REL 2001, Pa. Cmwlth.).



Law Firm Announces Addition Of New Member In Insurance, Reinsurance Practice
NEW YORK - Locke Lord LLP announced Aug. 4 that it has added William Primps to its global insurance and reinsurance practice in its New York office as a partner.