STORY FROM: Reinsurance & Arbitration

Agent Lacked Authority to Bind American Re To $2M Contract

OMAHA, Neb. - American Re-Insurance Co. is not obligated to contribute toward a $4.3 million settlement of claims arising from a deadly 2004 trucking accident because the reinsurance contract never existed, a Nebraska federal judge ruled May 6. Scottsdale Insurance Co. v. American Re-Insurance Co., No. 8:06CV16 (D. Neb.).

Chief Judge Joseph F. Bataillon of the District of Nebraska found that the underwriter, Hull & Company, Mid America Inc., did not have the authority to automatically place the reinsurance.

In 2004, Hull obtained $4 million in umbrella insurance from Continental Western Insurance Co. for Twin Lake Trucking Ltd. Hull then ...

Associated Documents

Registered User Login



Related Conferences

No conferences scheduled at this time.

Full Archives