Subscribe: LexisNexis® Mealey's™ Reinsurance Legal News
http://www.lexisnexis.com/mealeys/rss/legalnews_reinsurance.xml
Added By: Feedage Forager Feedage Grade B rated
Language: English
Tags:
breach contract  company  court  federal court  federal judge  federal  insurance  judge  new york  new  reinsurance  reinsurer  york 
Rate this Feed
Rate this feedRate this feedRate this feedRate this feedRate this feed
Rate this feed 1 starRate this feed 2 starRate this feed 3 starRate this feed 4 starRate this feed 5 star

Comments (0)

Feed Details and Statistics Feed Statistics
Preview: LexisNexis® Mealey's™ Reinsurance Legal News

LexisNexis® Mealey's™ Reinsurance Legal News



Headline Reinsurance Legal News from LexisNexis®



 



Judge Dismisses Insolvent Insurers' Breach Claims In Mortgage Reinsurance Suit
CHICAGO - An Illinois federal judge on June 1 dismissed breach of contract and breach of the implied covenant of good faith and fair dealing claims brought by the rehabilitator of two insolvent insurers against a mortgage insurance reinsurer and a bank (People of the State of Illinois, ex rel., Anne Melissa Dowling, Acting Director of Insurance of the State of Illinois, as Rehabilitator for Triad Guaranty Insurance Corporation and Triad Guaranty Assurance Corp. v. AAMBG Reinsurance Inc., No. 16-cv-07477, N.D. Ill., 2017 U.S. Dist. LEXIS 84231).



Reinsurer Seeks Trial Date Move After Failed Settlement Discussions
UTICA, N.Y. - Following failed settlement talks, a reinsurer in a June 12 letter requests that a New York federal court move the trial date in a reinsurance dispute from September to October to accommodate the schedule of its two key witnesses (Utica Mutual Insurance Co. v. Fireman's Fund Insurance Co., No. 09-cv-00853, N.D. N.Y.).



Judge Orders Parties To Arbitrate Reinsurance Suit Over Workers' Comp Risks
NEW YORK - In a dispute regarding reinsurance of workers' compensation risks, a New York federal judge on June 8 ordered the parties to arbitration, noting that it "is entirely speculative" whether an arbitrator will rule on the role of a group of companies as real parties in interest (In the matter of the arbitration between National Union Fire Insurance Company of Pittsburgh, PA v. Federal Insurance Co., No. 16-CV-8821, S.D. N.Y., 2017 U.S. Dist. LEXIS 88470).



Reinsurer Says Claims Of $1.3M Suit Are Not Ruled By Arbitration Clause
MONTGOMERY, Ala. - A reinsurer argues in a June 8 brief that an Alabama federal court should not stay a nonprofit public insurer's $1.3 million lawsuit pending arbitration because none of the claims is governed by a reinsurance agreement's arbitration clause (Alabama Municipal Insurance Corp. v. Munich Reinsurance America Inc., No. 16-cv-00948, M.D. Ala.).



Syndicates Ask Court To Compel Reinsurer To Follow Umpire Selection Process
BOSTON - In a dispute over environmental claims, a collection of insurance syndicates on May 31 asked a Massachusetts federal court to compel a reinsurer to arbitrate their disagreement and to enforce the parties' agreed-to procedure for the selection of an umpire (Certain Underwriters at Lloyd's, London v. Transport Insurance Co., No. 17-10618, D. Mass.).



Federal Bankruptcy Judge Orders Specialty Reinsurance Company To Post $15M Bond
NEW YORK - A New York federal bankruptcy judge held June 12 that a foreign specialty reinsurance company must post a bond in the amount of $15 million before a pending motion to compel arbitration of the dispute in Bermuda would be considered (In re: MF Global Holdings Ltd., et al. MF Global Holdings Ltd. as plan administrator, and MF Global Assigned Assets LLC v. Allied World Assurance Company Ltd., et al., Chapter 11 No. 11-15059, Adv. Proc. No. 16-01251, S.D. N.Y. Bkcy., 2017 Bankr. LEXIS 1585).



Judge Denies Amendment To Mortgage Insurance Reinsurance Scheme Suit
PITTSBURGH - In a mortgage insurance reinsurance scheme case, a Pennsylvania federal judge on June 6 denied leave to a putative class of mortgagors to file a third amended complaint based on their new theory under the Real Estate Settlement Procedures Act (RESPA) because it is time-barred and reliance on any equitable tolling doctrine has been disavowed (Linda Menichino, et al. v. Citibank, N.A., et al., No. 12-00058, W.D. Pa., 2017 U.S. Dist. LEXIS 86380).



Judge: Farming Co-op May Not Pay Premium Rebates In Reinsurance Years
TOLEDO, Ohio - After a merger with a non-grandfathered cooperative, a farming cooperative lost its status as an entity approved to make premium-rebate payments for 2005, 2006 or 2007 reinsurance years, an Ohio federal judge ruled June 6 (Sunrise Cooperative Inc. v. U.S. Department of Agriculture, et al., No. 16CV1297, N.D. Ohio, 2017 U.S. Dist. LEXIS 86696).



Farming Companies Appeal To 8th Circuit Ruling On FCIC's Right To Deny Claims
ST. LOUIS - The Eighth Circuit U.S. Court of Appeals on May 25 docketed an appeal regarding a ruling that the Federal Crop Insurance Corp. (FCIC), as reinsurer, has the duty and authority to issue a binding interpretation of special provisions and that it correctly confirmed denial of coverage to four farming entities for their damaged rice crops (Bottoms Farm Partnership, et al. v. Risk Management Agency, et al., No. 17-2164, 8th Cir.).



Judge Orders Reinsurer To Provide Missing Tax Documents To Insurers
ATLANTA - In a case over fraudulent transfers of reinsurance funds, a Georgia federal judge granted in part insurers' motion to compel on June 12, ordering a reinsurer to provide missing tax documents to the insurers (Canal Insurance Co. and Canal Indemnity Co. v. Golden Isles Reinsurance Company Ltd,, et al., No. 15-cv-03331, N.D. Ga.).



Discovery Responses Were Not Deficient, Reinsured Says To Nebraska Federal Court
LINCOLN, Neb. - A reinsured writes in a June 7 letter to a Nebraska federal court that its discovery responses regarding a promissory note and a reinsurance participation agreement were not deficient (Applied Underwriters Inc. v. Top's Personnel Inc., No. 15CV90, D. Neb.).



Reinsurer Seeks Production Of Redacted Documents On 'Reserves,' 'Other Reinsurance'
PHILADELPHIA - In a breach of contract dispute, a reinsurer in a June 1 motion asks a Pennsylvania federal court to compel an insurer to produce all documents it redacted or withheld concerning "reserves," "reinsurance," "other reinsurance" and "proprietary" information (R&Q Reinsurance Co. v. St. Paul Fire & Marine Insurance Co., No. 16-cv-01473, E.D. Pa.).



Reinsurer Opposes Insolvent Insurer's Bid To Assert Additional $362,788 In Claims
NEW YORK - A reinsurer on June 2 filed a letter with a New York federal court opposing a request by the liquidator of The Home Insurance Co. to amend a complaint to assert additional claims for $362,787.84 in a dispute over reinsurance proceeds allegedly owed to the insurer's estate (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.).



Federal Judge Allows Fraud Claim Over Failure To Set Up Reinsurance Company
CHICAGO - A car dealership and its owners sufficiently allege a claim for promissory fraud under Illinois law by alleging that warranty-related service providers never intended to keep a promise to set up an offshore reinsurance company for the dealership's benefit, an Illinois federal judge ruled May 22 (American Guardian Warranty Services Inc. and American Guardian Funding Corp. v. JCR-Westley Chapel LLC, et al., No. 16-11407, N.D. Ill., 2017 U.S. Dist. LEXIS 77100).



Panel: Joint Reinsurance Association Is Required To Pay Costs To Repair Home
SAN FRANCISCO - An insurance industry placement facility and joint reinsurance association is obligated by California Insurance Code Section 2051 to pay the costs to repair an insured's home, less depreciation, even if the amount exceeds the fair market value of her home, a California appeals panel ruled May 26 (California Fair Plan Association v. Marlene Garnes, No. A143190, Calif. App., 1st Dist., Div. 2, 2017 Cal. App. LEXIS 479).



Magistrate Judge Allows In Part Documents On Asbestos Losses In Reinsurance Dispute
BOSTON - Granting in part a reinsurer's request for documents relating to an insurer's allocation of an insured's asbestos losses to its reinsurers, a Massachusetts federal magistrate judge on May 26 ordered the insurer to produce facultative certificates for a few similarly situated reinsurers (Lamorak Insurance Co. v. Everest Reinsurance Co., No. 15-cv-13425, D. Mass.).



Defendants Oppose Request For Discovery Of Tax Returns, Bank Records As To Reinsurer
ATLANTA - In a case over fraudulent transfers of reinsurance funds, various individual defendants in a May 18 brief oppose a request by insurers for a Georgia federal court to compel them to provide tax returns and bank account records pertaining to a reinsurer because the motion is premature (Canal Insurance Co. and Canal Indemnity Co. v. Golden Isles Reinsurance Company Ltd, et al., No. 15-cv-03331, N.D. Ga.).



Reinsurer: Insurer Is Not Entitled To Judgment On Reimbursement, Allocation
SYRACUSE, N.Y. - In a breach of contract dispute over asbestos coverage, a reinsurer opposes in separate briefs filed on May 24 an insurer's request to a New York federal court for summary judgment on reimbursement and allocation issues (Utica Mutual Insurance Co. v. Munich Reinsurance America Inc., No. 12-cv-00196, Munich Reinsurance America Inc. v. Utica Mutual Insurance Co., No. 13-cv-00743, N.D. N.Y.).



Insureds: Breach Of Contract Counterclaim Initially Caused By Insurers' Own Breach
NEW YORK - In a New York federal court case over a fraudulent workers' compensation scheme involving a reinsurance participation agreement, insureds on May 24, in response to a breach of contract counterclaim, argue that any failure to pay $2.7 million in premiums was caused by the reinsurers' breach (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 Orders Reinsurer To Raise Objection To Stay Pending Arbitration Of $1.3M Lawsuit
MONTGOMERY, Ala. - An Alabama federal judge on May 18 ordered a reinsurer to show cause as to why he should not grant a nonprofit public insurer's motion to stay a $1.3 million lawsuit against the reinsurer pending arbitration of the matter (Alabama Municipal Insurance Corp. v. Munich Reinsurance America Inc., No. 16-cv-00948, M.D. Ala.).



Panel Denies Rehearing, Holds ACA Reinsurance Program Applies To State Employers
CINCINNATI - Denying a petition for rehearing en banc, the Sixth Circuit U.S. Court of Appeals on May 26 allowed its prior decision that the Patient Protection and Affordable Care Act (ACA)'s reinsurance program applies to state employers to stand (The State of Ohio, et al. v. United States of America, et al., No. 16-3093, 6th Cir., 2017 U.S. App. LEXIS 2844).



3 Insurers End $1.3M Reinsurance State Court Case Over Asbestos Claims
NEW YORK - Three insurers agreed in an April 7 filing to drop their New York state court lawsuit against their reinsurer over $1.3 million in reinsurance proceeds for an underlying settlement of lawsuits involving asbestos and tainted blood-clotting products (Granite State Insurance Co., et al. v. R&Q Reinsurance Co., No. 654494/2013, N.Y. Sup., New York Co.).



Parties Hold Settlement Conference In New York Federal Reinsurance Case
UTICA, N.Y. - Fireman's Fund Insurance Co. (FFIC) and Utica Mutual Insurance Co. on May 23 held a settlement conference in their reinsurance dispute concerning an underlying $325 million settlement of asbestos claims asserted against an insured (Utica Mutual Insurance Company v. Fireman's Fund Insurance Company, No. 09-cv-00853, N.D. N.Y.).



Insolvent Insurer's Liquidator Seeks Administration Expense Approval From Court
HARRISBURG, Pa. - The liquidator of Reliance Insurance Co. applied on May 25 for approval from a Pennsylvania court of a report and recommendation on administrative expenses by state insurance guaranty associations (GA) (In re: Reliance Insurance Co. in Liquidation, No. 1 REL 2001, Pa. Cmwlth.).



No Support For Breach Of Contract Tied To Payment Of Reinsurance Deductible
NEW YORK - In support of a breach of contract claim in an insurance coverage dispute over flood damage at a construction site, construction companies failed to show that their insurer's settlement caused them to pay a $50,000 deductible under a captive reinsurance agreement, a New York federal judge ruled May 4, dismissing the complaint (Keller Foundations LLC, et al. v. Zurich American Insurance Co., No. 16-6751, S.D. N.Y., 2017 U.S. Dist. LEXIS 68902).



Judge Bars Testimony In Reinsurance Risk Company's Breach Of Contract Case
SAN FRANCISCO - A California federal judge excluded on May 10 lay opinion testimony by a reinsurance risk management company's chief financial officer in a breach of contract lawsuit about funds that were improperly withdrawn from bank accounts (Les Fields/C.C.H.I. Insurance Services v. Stuart M. Hines, et al., No. 15-03728, N.D. Calif., 2017 U.S. Dist. LEXIS 71620).



Insurers' Rehabilitator Fails To Allege Breach Of Contract Claim, Reinsurer Asserts
CHICAGO - A mortgage insurance reinsurer argues in a May 5 reply brief to an Illinois federal court that the rehabilitator of two insolvent insurers failed to assert sufficient allegations to support breach of contract and breach of the implied covenant of good faith and fair dealing claims (People of the State of Illinois, ex rel., Anne Melissa Dowling, Acting Director of Insurance of the State of Illinois, as Rehabilitator for Triad Guaranty Insurance Corporation and Triad Guaranty Assurance Corp. v. AAMBG Reinsurance Inc., No. 16-cv-07477, N.D. Ill.).



Judge: Cession Statement Is Not Necessary To Establish Reinsurance Agreement
PHILADELPHIA - An insurer adequately alleged a relationship between an insurance policy and a reinsurance contract, even without reference to a cession statement, a Pennsylvania federal judge ruled May 12, denying the reinsurer's motion for judgment on the pleadings on the insurer's breach of contract counterclaim (R&Q Reinsurance Co. v. St. Paul Fire & Marine Insurance Co., No. 16-cv-01473, E.D. Pa., 2017 U.S. Dist. LEXIS 72964).



Reinsurers Counterclaim For Breach Of Contract, Argue Insureds Owe Past Premiums
NEW YORK - Accused by insureds of a fraudulent workers' compensation scheme involving a reinsurance participation agreement, reinsurers assert their own breach of contract counterclaim in a May 4 answer to a New York federal court, alleging that the insureds failed to pay $2.7 million in premiums (National Convention Services, LLC, et al. v. Applied Underwriters Captive Risk Assurance Company, Inc., et al., No. 15-cv-07063, S.D. N.Y.).



Life Insurer Obtains $2.7M Default Judgment Against Reinsurer Over Medical Claims
CHICAGO - Finding that a reinsurer abandoned its defense and any claims against a life insurance company, an Illinois federal judge on April 11 entered a $2,716,527.64 default judgment to the insurer against the reinsurer in a dispute over medical reinsurance proceeds (Guarantee Trust Life Insurance Co. v. American Medical and Life Insurance Co., No. 10-cv-02125, N.D. Ill.).



Syndicates Seek Arbitration Of Role In Claims Dispute Affecting Reinsurance Billings
BOSTON - A collection of insurance syndicates sued an insurer on April 11 in Massachusetts federal court, seeking to compel arbitration with regard to their involvement in an underlying coverage dispute over environmental claims that would affect reinsurance billings (Certain Underwriters at Lloyd's, London v. Transport Insurance Co., No. 17-10618, D. Mass.).



Court Was Not Required To Confirm Arbitration Award, Reinsurer Asserts
NEW HAVEN, Conn. - A reinsurer argues in its April 28 reply brief that a Connecticut federal court should grant reconsideration of an order confirming an arbitration award because the court was not required to enter judgment in sum certain (General Re Life Corp. v. The Lincoln National Life Insurance Co., No. 15-cv-01860, D. Conn.).



Judge Sets Oral Argument For Dispute On Sending Reinsurance Lawsuit To Arbitration Panel
NEW YORK - A New York federal judge on May 9 scheduled oral argument on whether a dispute regarding reinsurance of workers' compensation risks should be sent to arbitration for a panel to decide (In the Matter of the Arbitration Between National Union Fire Insurance Company of Pittsburgh, PA v. Federal Insurance Co., No. 16-cv-08821, S.D. N.Y.).



Reinsurer Seeks Discovery On Post-Complaint Documents Relating To Coverage Issues
SYRACUSE, N.Y. - In an asbestos coverage dispute, a reinsurer on May 15 asked a New York federal court to reconsider a discovery ruling and to compel an insurer to produce all post-complaint, internal documents involving coverage issues relating to primary and umbrella policies (Utica Mutual Insurance Co. v. R&Q Reinsurance Co., No. 15-cv-270, N.D. N.Y.).



Insurer Compels Discovery In Dispute Over Fraudulent Reinsurance Transfers
ATLANTA - In a case over fraudulent transfers of reinsurance funds, insurers on May 1 moved for a Georgia federal court to compel individuals to provide documents pertaining to a reinsurer after having failed to previously satisfy a discovery order (Canal Insurance Co. and Canal Indemnity Co. v. Golden Isles Reinsurance Company Ltd, et al., No. 15-cv-03331, N.D. Ga.).



Homeowners Allege Captive Scheme By Banks, Reinsurer In First Amended Complaint
PHILADELPHIA - Homeowners filed a first amended class action complaint on April 26 in a Pennsylvania federal court, alleging a captive reinsurance scheme between banks and an affiliated reinsurer in violation of the Real Estate Settlement Procedures Act (RESPA) (Christopher Blake and James Orkis v. JPMorgan Chase Bank, N.A., et al., No. 13-6433, E.D. Pa.).



Insurer's Liquidator Seeks Additional $362,788 Claim Against Reinsurer
NEW YORK - In a dispute over reinsurance proceeds allegedly owed to the estate of The Home Insurance Co., the liquidator on May 11 requested a pre-motion conference in a New York federal court to address an amendment to his complaint against a reinsurer to assert an additional claim of $362,787.84 (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.).



3rd Circuit Dismisses Appeal Of Mortgage Insurance Reinsurance Kickbacks Case
PHILADELPHIA - The Third Circuit U.S. Court of Appeals on May 8 dismissed an 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 Corp., et al., No. 16-4386, 3rd Cir.).



Reinsurer, Insurer Breach Of Contract Dispute Stayed Pending Potential Settlement
NEW HAVEN, Conn. - A Connecticut federal judge on May 4 stayed a breach of contract dispute between a reinsurer and insurer so that the parties could pursue a settlement agreement (Travelers Casualty and Surety Co., f/k/a The Aetna Casualty and Surety Co. v. Century Indemnity Co. as successor to Insurance Company of North America, No. 16-cv-170, D. Conn.).