STORY FROM: Reinsurance & Arbitration
Ala. Federal Judge Issues Judgment for Munich Re in $1.3 Million Flood Coverage Case
December 14, 2018
MOBILE, Ala. — An Alabama federal judge has issued a judgment in favor of Munich Reinsurance Co. in a $1.3 million dispute over reinsurance coverage for flood claims, following an arbitration award rendered in the reinsurer’s favor.
In the Dec. 7 order, Senior Judge W. Harold Albritton of the U.S. District Court for the Middle District of Alabama explained that the parties requested the judgment following issuance of the final award. The judge also dismissed Alabama Municipal Insurance Corp. (AMIC)’s claims with prejudice.
Munich Re issued AMIC a Casualty Excess of Loss Reinsurance Agreement (No. 1236-0013), under which AMIC agreed ...
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