STORY FROM: Reinsurance & Arbitration
American Medical Refutes Guarantee Trust Life’s Allegations That it Wrongly Withheld Reinsurance Proceeds
March 2, 2016
CHICAGO — In response to Guarantee Trust Life Insurance Co.’s second amended complaint filed in a dispute involving medical reinsurance, American Medical and Life Insurance Co. asserts the claims are time-barred and precluded by the doctrines of estoppel and waiver.
In its Feb. 16 answer filed in the U.S. District Court for the Northern District of Illinois, AMLI denied GTL’s allegations that it wrongly withheld reinsurance proceeds pursuant to the treaty’s offset provision.
This action involves two reinsurance treaties. Under the first treaty, effective Aug. 1, 2008, to July 31, 2009, GTL allegedly agreed to reinsure limited medical insurance policies ...
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