STORY FROM: Reinsurance & Arbitration

U.S. Bank Says Accident Insurance’s Motion for New Trial Should be Denied

COLUMBIA, S.C. — U.S. Bank National Association is urging a South Carolina federal judge to deny Accident Insurance Co.’s motion for a new trial, arguing the weight of the evidence shows that the bank did not breach its duties as the trustee of a reinsurance account or commit civil conspiracy.

In a June 15 reply filed before Judge J. Michelle Childs of the U.S. District Court for the District of South Carolina, the bank contends that “AIC’s displeasure with the outcome of this exhaustive litigation does not warrant a different verdict or new trial.”

AIC entered into a reinsurance ...

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