STORY FROM: Reinsurance & Arbitration
Health Insurer Sues Swiss Re for $1.8 Million in Reinsurance Proceeds
November 9, 2018
PORTLAND, Ore. — A health insurance provider has sued Swiss Re Life & Health America Inc. in Oregon federal court, accusing it of wrongly refusing to pay $1,802,674 in reinsurance for claims arising from a member’s hemophilia treatment and unrelated surgeries.
In a Nov. 2 complaint filed in the U.S. District Court for the District of Oregon, Moda Health Plan Inc. argues that, contrary to Swiss Re’s assertion, it provided timely notice of the underlying claims in compliance with the reinsurance agreement.
Moda entered into an excess of loss reinsurance agreement with Swiss Re. The effective date was Jan. 1, ...