STORY FROM: Reinsurance & Arbitration

Applied Underwriters Not Bound to Arbitrate Breach of Promissory Note Action, Neb. Federal Judge Rules

OMAHA, Neb. — Applied Underwriters Inc. is not bound to arbitrate an action in which it accuses Top’s Personnel Inc. of breaching a promissory note, a Nebraska federal judge has ruled, because the note does not contain an arbitration clause.

On June 16, Judge John M. Gerrard of the U.S. District Court for the District of Nebraska adopted a magistrate judge’s findings that the dispute does not arise from a related reinsurance agreement that contains an arbitration provision.

Applied Underwriters Captive Risk Assurance Company Inc. (ACURA) and Top's Personnel entered into a reinsurance participation agreement (RPA) on Dec. 14, 2011. ...

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