STORY FROM: Reinsurance & Arbitration
Preliminary Injunction Denied in Dispute Involving Assumption Reinsurance Agreement
August 6, 2019
DALLAS — A Texas federal judge has denied a policyholder’s request for a preliminary injunction in a lawsuit accusing a life insurer of charging exorbitant premiums after assuming policies from another insurer via an assumption reinsurance agreement.
In a July 30 order, Judge Karen Scholer of the U.S. District Court for the Northern District of Texas accepted the findings of a magistrate judge who opined that the plaintiff failed to demonstrate a likelihood of success on the merits of his case because his allegations of unconscionability are unsupported and he was provided ample notice of the assumption agreement.
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