STORY FROM: Reinsurance & Arbitration
Beechwood Re Sues Insurer for $4 Million, Seeks Coverage for Platinum Partners Lawsuit
March 15, 2017
NEW YORK — Beechwood Re Holdings Inc. has sued its insurer in New York court, seeking more than $4 million in coverage for regulatory investigations, a lawsuit and an arbitration arising out of its dealings with the troubled hedge fund manager Platinum Partners.
The complaint, filed March 10 in the New York County Supreme Court, accuses Starr Indemnity & Liability Co. of breaching Beechwood’s policy by declining coverage for its claim.
In June 2016, the Securities and Exchange Commission subpoenaed Beechwood Re Holdings Inc., Beechwood Re LTD and Beechwood Bermuda International LTD in connection with an SEC enforcement action. The ...
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