STORY FROM: Reinsurance & Arbitration
Allianz Urges New York Federal Court to Retain Jurisdiction Over R&Q’s Rescission Action
March 14, 2016
NEW YORK — Allianz Insurance Co. is urging a New York federal judge to deny R&Q Reinsurance Co.’s motion to remand a lawsuit in which R&Q seeks rescission of two facultative certificates, arguing that the amended complaint satisfies New York’s “revival exception.”
In a March 11 opposition filed in the U.S. District Court for the Southern District of New York, Allianz further asserts that it has not waived its right to remove the case a second time, asserting that the amended complaint post-dates all of Allianz’s actions in New York state court.
Allianz Insurance Co. issued umbrella insurance policies to ...
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