STORY FROM: Reinsurance & Arbitration
Medical Insurer Files Amended Complaint Against Reinsurer, Seeks Payment of $139,000 Claim
September 5, 2018
WEST PALM BEACH, Fla. — A medical insurance provider has filed an amended complaint against its reinsurer in Florida federal court, seeking payment of a $139,000 claim made under an excess reinsurance agreement.
In the Aug. 31 pleading filed in the U.S. District Court for the Southern District of Florida, VIP Universal Medical Insurance Group Ltd. alleges BF&M Life Insurance Company Ltd. breached the agreement in refusing to pay the claim.
VIP allegedly entered into an excess reinsurance agreement with reinsurer BF&M. Under the contract, BF&M agreed to reinsure VIP for medical claims in excess of $200,000.
VIP submitted a ...
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