STORY FROM: Reinsurance & Arbitration

Parties Settle $139,000 Reinsurance Action, Fla. Federal Judge Dismisses Case

WEST PALM BEACH, Fla. — A Florida federal judge has dismissed a lawsuit in which a medical insurer sought payment of a $139,000 reinsurance claim, noting the parties have reached a settlement.

In a Nov. 21 order, Judge Kathleen Williams of the U.S. District Court for the Southern District of Florida directed the parties to file a joint stipulation to dismiss by Dec. 7.

VUMI allegedly entered into an excess reinsurance agreement with reinsurer BF&M Life Insurance Company Ltd. Under the contract, BF&M agreed to reinsure VUMI for medical claims in excess of $200,000.

VUMI submitted a claim for $139,000, ...

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