STORY FROM: Reinsurance & Arbitration

Md. Federal Judge Refuses to Amend Discovery Ruling in Offshore Reinsurance Fraud Action

BALTIMORE — A Maryland federal judge has denied plaintiffs’ request to amend a discovery ruling in a case accusing Banner Life Insurance Co. of shifting its debt to offshore reinsurers in order to hide its “questionable” solvency.

On Nov. 7, Judge A. David Copperthite of the U.S. District Court for the District of Maryland denied plaintiffs’ request to extend the discovery timeframe relating to 11 class policies beginning with each policies’ respective inception/development date through 2015 “so that the assumptions and projections Banner made at the time the policies were developed can be evaluated with respect to its defense of ...

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