STORY FROM: Reinsurance & Arbitration
Action Targeting Applied Underwriters Reinsurance Participation Agreement Settles in N.Y.
January 22, 2019
NEW YORK — A New York fraud action targeting a reinsurance participation agreement (RPA) executed as part of Applied Underwriters Inc.’s EquityComp workers’ compensation program has settled, according to a recent filing.
In a Dec. 28 stipulation filed before Judge Marguerite A. Grays of the Queens County (N.Y.) Supreme Court the parties said they “have determined to resolve this matter amicably.”
The Energy Conservation Group LLC, a New York home heating oil delivery service, participated in a workers’ compensation program known as “EquityComp,” which was administered by Applied Underwriters Inc. Pursuant to a 2010 request to bind, AUI affiliate Continental ...