STORY FROM: Reinsurance & Arbitration
Munich Re Asks Fla. Federal Judge to Take Notice of Ruling in $1 Million Reinsurance Battle
May 4, 2020
TAMPA, Fla. — Munich Reinsurance America Inc. has asked a Florida federal judge to take notice of a ruling which allegedly supports its position that it is not obligated to pay $1 million in reinsurance proceeds to a risk management pool for settlement of an underlying lawsuit against the City of St. Pete Beach.
In an April 17 filing in the U.S. District Court for the Middle District of Florida, Munich Re maintains that the recent Southern District of Florida decision backs its argument that the City’s wrongful acts date back to 2005, which would not trigger the underlying policy ...