STORY FROM: Superstorm Sandy Insurance Litigation
Federal Law Does Not Bar Windstorm Underwriting Association From Imposing Deadlines, 5th Cir. Affirms
December 21, 2015
NEW ORLEANS — Federal law does not bar the Mississippi Windstorm Underwriting Association from imposing a deadline for its members to revise their Multiple Peril Crop Insurance (MPCI) data for the purpose of calculation of MPCI premiums, a federal appeals court has affirmed.
In a Dec. 15 opinion, the 5th Circuit U.S. Court of Appeals explained that the Federal Crop Insurance Corp. (FCIC), which regulates crop insurance, did not intend to preempt all state-based regulation of companies that sell federally reinsured crop insurance. As such, the FCIC does not bar MWUA from imposing and enforcing its true-up deadline, the appellate ...
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