STORY FROM: Reinsurance & Arbitration

Insurer Asks Ohio Federal Court to Appoint Umpire to Oversee Reinsurance Dispute

AKRON, Ohio — An insurer has asked an Ohio federal court to appoint an umpire to oversee its reinsurance dispute with Hannover Life Reassurance Company of America, arguing that the parties have reached an impasse in the appointment process.

In a Sept. 7 motion, Envision Insurance Co. asked the U.S. District Court for the Northern District of Ohio to order the parties to complete the ARIAS-U.S. Umpire Selection Procedure.

Envision and Hannover Re are parties to a Medicare Part D Prescription Drug Program Individual Business Reinsurance Agreement. The contract reinsures a share of Envision’s liability under Medicare Part D Prescription ...

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