Amended Complaint Filed in Suit Accusing Bank of Mishandling Trust Account Funds

Breach of Fiduciary Duty

Amended Complaint Filed in Suit Accusing Bank of Mishandling Trust Account Funds

COLUMBIA, S.C. — Accident Insurance Company Inc. has filed an amended complaint in a lawsuit accusing U.S. Bank National Association of depleting a reinsurance trust account, adding a claim for civil conspiracy.

The Sept. 6 amended pleading, filed before Judge J. Michelle Childs of the U.S. District Court for the District of South Carolina, also lists claims of breach of contract, breach of fiduciary duty, negligence and negligent misrepresentation.

In April 2013, Accident Insurance Co. (AIC) entered into a reinsurance contract with Freestone …