STORY FROM: Reinsurance & Arbitration

Top’s Refutes Applied Underwriters’ Allegations That it Breached Promissory Note

OMAHA, Neb. — Top’s Personnel Inc. has denied Applied Underwriters Inc.’s allegations that it breached a promissory note and has asserted numerous defenses in an answer filed in Nebraska federal court.

In its July 26 answer filed in the U.S. District Court for the District of Nebraska, Top’s asserts that it fulfilled all of its obligations under the promissory note and that AUI did not sustain any losses or damages as a result of its conduct.

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

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