Reinsurer's Claims Against Fremont General are Time-Barred
July 2, 2008
DOCUMENTS
- 9th Circuit Memoranda
- Lower Court Opinion
SAN FRANCISCO - Breach of contract and fraud claims brought by a reinsurer against the parent companies of the now-insolvent Fremont Indemnity Co. (FIC) are time-barred, the 9th Circuit U.S. Court of Appeals affirmed June 24. Gerling Global Reinsurance Corp. v. Fremont General Corp., No. 07-55198 (9th Cir.).
"Even drawing all inferences in favor of Gerling, the record evidence establishes as a matter of law that Gerling suspected or should have suspected wrongdoing prior to July 27, 2001," the appellate panel ruled.
Gerling's predecessor issued FIC a reinsurance treaty effective January 1998 through December 1999. The treaty reinsured FIC for …
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