STORY FROM: Reinsurance & Arbitration

Swiss Re Asserts Affirmative Defenses in $1.8 Million Reinsurance Action

PORTLAND, Ore. — Swiss Re Life & Health America Inc. has refuted allegations that it owes a health insurance provider $1,802,674 in reinsurance for claims arising from a member’s hemophilia treatment and unrelated surgeries.

In a Jan. 4 answer filed in the U.S. District Court for the District of Oregon, Swiss Re says Moda Health Plan Inc.'s claim is barred by its own breach of the reinsurance policy.

Moda entered into an excess of loss reinsurance agreement with Swiss Re, effective Jan. 1, 2016. The parties renewed the agreement on Jan. 1, 2017. The contract required Moda to report potential ...

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