STORY FROM: Reinsurance & Arbitration
Captive Insurer Opposes Jurisdictional Discovery in $934 Million Reinsurance Action
July 13, 2020
WASHINGTON, D.C. — An insurer has objected to a magistrate judge’s recommendation that the trustees of an employee pension plan be allowed to conduct jurisdictional discovery in an action in which they seek $934 million in withdrawal liability payments from offshore reinsurer Cardem Insurance Company Ltd.
In a July 6 opposition filed in the U.S. District Court for the District of Columbia, Cardem Insurance Company Ltd. contends that under Daimler AG v. Bauman, 571 U.S. 117, 118 (2014), it would be impossible for the trustees to show that the insurer has had continuous and systematic contact with the United States ...
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