STORY FROM: Reinsurance & Arbitration
N.Y. Federal Judge Dismisses Third-Party Claims Against Claims Administrator in Reinsurance Fraud Action
November 3, 2015
NEW YORK — A New York federal judge has dismissed third-party claims levied against a claims administrator in an action in which a reinsurer and its agent claim they were bilked out of $9.3 million in fees and trust account funds in an alleged reinsurance scheme.
In an Oct. 26 order, Judge Colleen McMahon of the U.S. District Court for the Southern District of New York found the third-party defendant, Network Adjusters Inc., owed no duty to the third-party plaintiffs under the Master Claims Services Agreement at issue.
Under the “Safebuilt Reinsurance Program,” Safebuilt Insurance Services, an entity controlled by ...
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