STORY FROM: Reinsurance & Arbitration

Reinsurers Dismissed from $26 Million Lawsuit; Negligence Claims Against Intermediary to Proceed

WASHINGTON, D.C. — A District of Columbia federal judge has dismissed a group of reinsurers from a lawsuit in which Vantage Commodities Financial Services Inc. is seeking payment of a $26 million judgment following an arbitration ruling in its favor, holding that the lawsuit was never properly served on those defendants.

However, in an Aug. 6 order, Judge Trevor N. McFadden of the U.S. District Court for the District of Columbia allowed Vantage’s negligence claims to proceed against reinsurance intermediaries Willis Limited, Willis Re Inc., and Willis Towers Watson Management (Vermont) Ltd.

Vantage procured a policy from insurer Assured ...

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