STORY FROM: Reinsurance & Arbitration
Judge Refuses to Dismiss Lawsuit Against Puerto Rican Insurance Regulators
October 11, 2019
SAN JUAN, Puerto Rico — A Puerto Rico federal judge has refused to dismiss a lawsuit filed by the owners of Integrand Assurance Co. against Puerto Rican insurance regulators, accusing them of conspiring to harm the insurer’s reputation and hamper its ability to regain financial stability in the wake of hurricane-related losses.
In an Oct. 9 order, Judge Gustavo Gelpi of the U.S. District Court for the District of Puerto Rico rejected defendants’ argument that plaintiffs are required to join Integrand as an indispensable party defendant. The complaint alleges civil rights violation claims, under 42 U.S.C. § 1983, that mostly ...