STORY FROM: Reinsurance & Arbitration

Bank Withdraws Motion to Compel Production of Documents Supporting Claimed Damages

COLUMBIA, S.C. — U.S. Bank National Association has withdrawn its motion to compel an insurer to identify the documents it relied upon in computing its alleged damages arising from the bank’s purported mishandling of funds in a reinsurance trust account.

In the May 24 motion filed in the U.S. District Court for the District of South Carolina, the bank argued that Accident Insurance Company Inc. has refused the produce the documents used in setting its total alleged damages at $13,247,656.20.

However, in a June 14 filing, the bank explained that one week after it filed its motion to compel, ...

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