STORY FROM: Reinsurance & Arbitration

Cedent Counterclaims Against Reinsurer for Breach of Contract in Okla. Federal Action

OKLAHOMA CITY — A cedent has filed a counterclaim against a reinsurer in a declaratory judgment action involving coverage for a 2016 deadly vehicle accident, arguing that it breached a reinsurance agreement by refusing to honor its alleged obligations.

K&J Telecommunications LLC filed the counterclaim for breach of contract against Star Insurance Co. in the U.S. District Court for the Western District of Oklahoma on March 18.

United Specialty Insurance Co. (USIC) entered into a one-year commercial excess liability insurance policy with K&J in October 2016. Star agreed to reinsure 100 percent of USIC’s liability under the policy.

The ...

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