STORY FROM: Reinsurance & Arbitration

Applied Underwriters Asks N.Y. Federal Court to Transfer Reinsurance Fraud Case to Nebraska

NEW YORK - Applied Underwriters has moved to transfer to Nevada an action in which it is accused of scheming with its affiliates to charge excessive premiums for its "profit sharing" workers' compensation insurance program.

In a Feb. 12 motion filed in the U.S. District Court for the Eastern District of New York, Applied Underwriters argues that the forum selection clause in the reinsurance participation agreement (RPA) and promissory note at issue mandates that claims arising from those contracts be adjudicated in the U.S. District Court for the District of Nebraska.

Plaintiff AGL Industries Inc. opposed the motion on the ...

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