STORY FROM: Reinsurance & Arbitration
S.C. Federal Judge Gives Bank Access to Insurer’s Non-Privileged Financial Documents in Reinsurance Dispute
April 12, 2017
COLUMBIA, S.C. — A South Carolina federal judge has declined to quash a subpoena in which a bank accused of mishandling reinsurance funds seeks the plaintiff’s financial documents from state insurance regulators.
On April 10, Judge J. Michelle Childs of the U.S. District Court for the District of South Carolina explained that not all of the documents are privileged under the South Carolina Holding Company Regulatory Act. As such, the bank may obtain non-privileged documents that are relevant to its claims and defenses.
Companion Property and Casualty Insurance Co. participated in a fronted insurance program with reinsurers Redwood Reinsurance ...
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