Reinsurer Says General Agent NTA Owes it $3.5 Million in Commission Adjustments

FORT WORTH, Texas — A Bermuda-based reinsurer has sued general agent National Transportation Associates (NTA) in Texas federal court, accusing it of wrongly withholding $3.5 million in commission adjustments that it should have paid the reinsurer under the terms of four quota share reinsurance agreements.

In a May 3 complaint filed in the U.S. District Court for the Northern District of Texas, JRG Reinsurance Company Ltd. further alleges that NTA is wrongfully holding more than $500,000 it received from the reinsurer for a loss fund that is no longer needed.

At issue are four consecutive QSRAs that were in effect …