STORY FROM: Reinsurance & Arbitration

Settlement Discussions Continue Between AmTrust, Safebuilt in $9.3 Million Action

NEW YORK — A New York federal judge has agreed to extend the deadline for filing summary judgment motions a third time in a $9.3 million reinsurance fraud action between AmTrust North America Inc. and Safebuilt Insurance Services pending settlement discussions.

On June 12, Judge Colleen McMahon of the U.S. District Court for the Southern District of New York granted the parties’ request for an extension until July 24, but warned that she would not grant another extension.

Under the “Safebuilt Reinsurance Program,” Safebuilt, an entity controlled by David Pike and Philip Salvagio, was to underwrite primary policies issued by ...

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