STORY FROM: Reinsurance & Arbitration
Texas Appeals Court Upholds Summary Judgment Award to Reinsurer in Annuity Payout Case
September 18, 2018
DALLAS — A Texas appeals court has upheld an award of summary judgment to a reinsurer on a breach of contract claim in an annuity payout dispute, ruling there is no question of fact as to whether the plaintiff insurer performed its obligations under the subject reinsurance agreement.
In a Sept. 13 opinion, the Texas Court of Appeals, 5th District, also upheld an award of summary judgment to a life insurer defendant, finding there is no fact issue as to whether the plaintiff performed under the parties’ third-party administrative services agreement (TPA).
In 1973, Capitol, a Colorado-based life insurance company, ...