STORY FROM: Reinsurance & Arbitration
Alabama Non-Profit Insurer Seeks to Arbitrate $1.3 Million Action Against Munich Re
May 22, 2017
MOBILE, Ala. — Non-profit public insurer Alabama Municipal Insurance Corp. has moved to stay its $1.3 million lawsuit against Munich Reinsurance America Inc. pending arbitration pursuant to an arbitration provision in the reinsurance treaty at issue.
On May 18, Judge W. Harold Albritton of the U.S. District Court for the Middle District of Alabama ordered Munich to show cause as to why AMIC’s motion should not be granted.
According to AMIC’s amended complaint, Munich Re issued AMIC a Casualty Excess of Loss Reinsurance Agreement (No. 1236-0013), under which AMIC agreed that it would “retain and be liable for the first ...
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