STORY FROM: Reinsurance & Arbitration
Fla. Federal Judge Dismisses Reinsurer’s Agent from Breach of Contract Action
July 23, 2018
WEST PALM BEACH, Fla. — A Florida federal judge has dismissed a reinsurer’s agent from a breach of contract action on the basis that the agent was not a party to the excess reinsurance agreement at issue.
In a July 18 order, Judge Kathleen Williams of the U.S. District Court for the Southern District of Florida explained that under Florida law, “an agent for a disclosed insurer is not liable to the insured on the insurance contract.”
VIP Universal Medical Insurance Group Ltd. allegedly entered into an excess reinsurance agreement with reinsurer BF&M Life Insurance Company Ltd. Under the contract, ...
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