STORY FROM: Reinsurance & Arbitration
Resolute Management Not Liable to Policyholder as Reinsurer, Ind. Federal Judge Rules
June 20, 2016
INDIANAPOLIS — An Indiana federal judge has dismissed a policyholder’s third-party claims against Resolute Management Inc., ruling that Resolute cannot be held liable as a reinsurer because it was not a party to any reinsurance agreement related to the underlying environmental losses.
On June 15, Judge Robert Miller Jr. of the U.S. District Court for the Northern District of Indiana further held that even if Resolute was a party to the reinsurance agreement, it was one of indemnity rather than assumption and therefore Resolute cannot be held directly liable to the policyholder.
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