STORY FROM: Reinsurance & Arbitration
Defendant Actuary Availed Itself of Okla. Forum, Federal Judge Rules
May 30, 2017
OKLAHOMA CITY — A federal judge has refused to dismiss a lawsuit filed by the receiver of an insolvent insurer against an actuary, ruling that the defendant purposely availed itself of an Oklahoma forum because it knew the state insurance department relied on its reports in evaluating the insurer’s solvency.
On May 25, Judge David Russell of the U.S. District Court for the Western District of Oklahoma found the actuary knew that the Oklahoma Insurance Department (OID) “had a special interest in, and obligation with respect to,” the insurer’s financial stability.
Driver’s Insurance Corp. (DIC) wrote auto insurance policies for ...