STORY FROM: Reinsurance & Arbitration

Applied Underwriters Reinsurer Settles Claims Against Calif. Employers

LINCOLN, Neb. — Applied Underwriters Captive Risk Assurance Co. has agreed to settle its claims alleging that a group of California employers owe $375,689 under a reinsurance participation agreement, according to a Nebraska federal magistrate judge’s order.

In an Aug. 9 order, Magistrate Judge Susan Bazis of the U.S. District Court for the District of Nebraska said the parties notified her that they reached a settlement. She ordered the parties to file a joint stipulation for dismissal with the clerk of court.

In June 2013, a group of related California investment companies (the “Pitamber entities”) entered into a reinsurance participation ...

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