STORY FROM: Reinsurance & Arbitration

Accident Insurance Moves for New Trial in Reinsurance Trust Account Action

COLUMBIA, S.C. — Accident Insurance Co. has moved for a new trial following a South Carolina federal judge’s determination that U.S. Bank National Association did not breach its duties as the trustee of a reinsurance account or commit civil conspiracy.

In a May 18 motion filed before Judge J. Michelle Childs of the U.S. District Court for the District of South Carolina, AIC contends that it presented the court “with considerable proof that U.S. Bank did not properly perform its duties as trustee.”

In April 2013, AIC entered into a reinsurance contract with Freestone Insurance Co. as part of a ...

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