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Preview: LexisNexis® Mealey's™ Reinsurance Legal News

LexisNexis® Mealey's™ Reinsurance Legal News



Headline Reinsurance Legal News from LexisNexis®



 



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.).



New Jersey Appeals Panel: Reinsurance Intermediary's Claims Are Time-Barred
JERSEY CITY, N.J. - A six-year statute of limitations precludes a reinsurance intermediary's promissory estoppel, unjust enrichment and tortious interference counterclaims against an insurance and a reinsurance management services provider and an excess and surplus lines insurer, a New Jersey appeals panel affirmed Sept. 20 (Berkley Risk Solutions LLC, et al. v. Industrial Re-International Inc., et al., No. A-2366-15T1, N.J. Super., App. Div., 2017 N.J. Super. Unpub. LEXIS 2382).



Appeals Panel Addresses Defamation Claims Against Former N.Y. Attorney General
NEW YORK - American International Group Inc.'s (AIG) former chief executive officer sufficiently alleged a defamation claim based on several public statements made by New York's former attorney general, a New York appeals panel affirmed Sept. 13 (Maurice R. Greenberg v. Eliot L. Spitzer, No. 1436/13, N.Y. App. Div., 2nd Dept., 2017 N.Y. App. Div. LEXIS 6422).



Breach Of Fiduciary Duty Claim Dismissed In Dispute Over Sham Reinsurer Scheme
NEW YORK - In a dispute over two alleged schemes involving a "sham reinsurance company" and a "sham medical billing company," a New York justice on Sept. 15 dismissed claims by an investment fund for breach of fiduciary duty and aiding and abetting breach of fiduciary duty and unjust enrichment (Wimbledon Financing Master Fund Ltd. v. Weston Capital Management LLC, et al., No. 653468/2015, N.Y. Sup., New York Co., 2017 N.Y. Misc. LEXIS 2725).



Judge Declines To Dismiss Claims Against Bank Over Reinsurance Trust Mishandling
COLUMBIA, S.C. - An insurer sufficiently alleged claims for breach of contract, breach of fiduciary duty, negligence/gross negligence and negligent misrepresentation against a bank for its role as trustee of a reinsurance trust with an insolvent insurer, a South Carolina federal judge ruled Sept. 28, refusing to dismiss the claims (Accident Insurance Company Inc. v. U.S. Bank National Association, et al., No. 16-2621, D. S.C., 2017 U.S. Dist. LEXIS 159628).



Credit Insurer Seeks Dismissal Of Claims In Breach Of Contract Suit Against It, Reinsurers
WASHINGTON, D.C. - A credit insurer argues in a Sept. 29 motion that a financial services company failed to assert a claim against it in a breach of contract lawsuit filed in the District of Columbia federal court, in which the financial services company seeks to collect on a $26 million judgment arbitration award from the credit insurer and its reinsurers (Vantage Commodities Financial Services I, LLC v. Assured Risk Transfer PCC, LCC, et al., No. 17-01451, D. D.C.).



Reinsurer Asserts Statute Of Limitations Defense To Breach Of Contract Counterclaims
PHILADELPHIA - In response to an insurer's breach of contract counterclaims, a reinsurer on Sept. 27 filed an amended answer in a Pennsylvania federal court, asserting a statute of limitations defense and that it did not agree to reinsure an excess umbrella policy (R&Q Reinsurance Co. v. St. Paul Fire & Marine Insurance Co., No. 16-1473, E.D. Pa.).



Magistrate Judge Declines Revisiting Ruling On Documents Between Insurer, Reinsurer
CINCINNATI - In an asbestos coverage dispute, an Ohio federal magistrate judge on Sept. 26 refused to reconsider a prior decision where she declined to conduct an in camera review of an insurer's documents disclosed to third parties other than a reinsurer and a claims adjuster because they are not entitled to protection under the attorney-client privilege (The William Powell Co. v. National Indemnity Co., et al., No. 14-807, S.D. Ohio, 2017 U.S. Dist. LEXIS 157733).



Magistrate Judge Compels Discovery In Life Insurance Scheme Involving Reinsurers
BALTIMORE - In an alleged life insurance fraud scheme that shifted debt to reinsurers, a Maryland federal magistrate judge on Sept. 28 ordered a life insurer 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



Magistrate Judge Denies Reinsurer's Bid On Discovery For Distribution Of Funds
SAN DIEGO - A California federal magistrate judge on Sept. 22 denied a reinsurer's request for expedited discovery to locate unlawfully distributed funds (Odyssey Reinsurance Co. v. Richard Keith Nagby, et al., No. 16-3038, S.D. Calif., 2017 U.S. Dist. LEXIS 155546).



Judge Dismisses Suit Over Breach Of Reinsurance Trust Duties For Lack Of Jurisdiction
COLUMBIA, S.C. - Citing a recent U.S. Supreme Court ruling, a South Carolina federal judge on Sept. 25 dismissed a lawsuit accusing a bank of breaching its duties as trustee of a reinsurance trust account for lack of personal jurisdiction (Accident Insurance Company Inc. v. U.S. Bank National Association, et al., No. 16- 2621, D. S.C., 2017 U.S. Dist. LEXIS 156301).



Judge Finds Fact Issue On Use Of Reinsurance Costs For Costs Of Insurance Increase
PHILADELPHIA - A Pennsylvania federal judge ruled Sept. 22 that it is not implausible that a provision allowing a life insurer to consider that future "expenses" for a cost of insurance (COI) calculus would not include reinsurance costs (EFG Bank AG, Cayman Branch, et al. v. Lincoln National Life Insurance Co., No. 17-02592, E.D. Pa., 2017 U.S. Dist. LEXIS 154985).



Farming Co-Op Says It Did Not Lose Status To Pay Premium Rebates In Reinsurance Years
CINCINNATI - A farming cooperative argues in a Sept. 12 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.).



Reinsurer Argues Dispute With Insolvent Insurer Must Be Arbitrated Or Transferred
AUSTIN, Texas - A New Zealand reinsurer argues in a Sept. 12 reply brief that a Texas federal court should transfer venue or compel arbitration of a reinsurance agreement dispute with an insolvent insurer because a breach of contract claim is subject to an arbitration clause (Gramercy Insurance Co. v. Contractor's Bonding Ltd., No. 17-723, W.D. Texas).



Reinsurer Opposes Motion To Bar Employee's Testimony In Asbestos Coverage Dispute
UTICA, N.Y. - In a dispute over an underlying $325 million settlement of asbestos claims, a reinsurer responds in a Sept. 13 opposition brief to an insurer's motion to exclude testimony from the reinsurer's former employee, arguing to a New York federal court that the former employee has extensive knowledge regarding reinsurance practices, policies and procedures (Utica Mutual Insurance Co. v. Fireman's Fund Insurance Co., No. 09-cv-00853, N.D. N.Y.).



Insurer Seeks Judgment On Bank's Misrepresentation Of Reinsurance Funds Mishandling
COLUMBIA, S.C. - An insurer on Sept. 20 moved for summary judgment in a South Carolina federal court on its negligent misrepresentation claim against a bank accused of mishandling reinsurance funds and also opposes the bank's request for summary judgment "on the basis of a cherry-picked and one-sided record" (Companion Property and Casualty Insurance Co. v. U.S. Bank National Association v. Redwood Reinsurance Spc. Ltd., et al., No. 15-01300, D. S.C.).



Homeowners Say Reinsurer, Mortgagors Are Not Entitled To Judgment On RESPA Claim
PITTSBURGH - In a mortgage insurance reinsurance scheme case, mortgagors and a reinsurer are not entitled to judgment on a Real Estate Settlement Procedures Act (RESPA) claim under Third Circuit U.S. Court of Appeals law, homeowners say in a brief filed Sept. 19 in a Pennsylvania federal court (Linda Menichino, et al. v. Citibank, N.A., et al., No. 12-00058, W.D. Pa., 2017 U.S. Dist. LEXIS 86380).



Federal Judge Schedules Jury Trial In Reinsurance Suit Over Asbestos Claims
SYRACUSE, N.Y. - In a reinsurance dispute over coverage for underlying asbestos injury claims, an insurer writes in a letter filed in a New York federal court on Sept. 19 that it rejects a reinsurer's suggestion that it dismiss the case without prejudice because the case presents a justiciable controversy (Utica Mutual Insurance Co. v. R&Q Reinsurance Co., No. 15-270, N.D. N.Y.).



Insurer's Liquidators Oppose Dismissal Of Withholding Reinsurance Funds Claims
COLUMBIA, S.C. - Liquidators for a failed South Carolina Patient Protection and Affordable Care Act (ACA) co-operative insurer in a Sept. 5 brief in South Carolina federal court oppose the U.S. government's motion to dismiss their lawsuit alleging the improper withholding of reinsurance payments from and setting off debts owed by the government (Raymond G. Farmer, et al. v. United States of America, et al., No. 17-00956, D. S.C.).