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Issue #134, May 2019

Penn National Says Arbitration Should Proceed in Reinsurance Coverage Dispute

Pennsylvania National Mutual Casualty Insurance Co. is asking a federal judge to allow arbitration to proceed in a reinsurance dispute, arguing that it will be irreparably harmed if the reinsurer’s motion for a stay pending appeal is granted.


Insurers Say Federal Court Has Jurisdiction Over $20 Million Reinsurance Action

Two insurers are urging a New Hampshire federal judge to deny a motion to dismiss their $20 million reinsurance action against several insurers, arguing that federal jurisdiction exists, and abstention is not warranted under the Colorado River doctrine.


Defendants May Assert California Claims in Neb. Applied Underwriters Action

A Nebraska federal magistrate judge has allowed the defendants in a case involving a reinsurance participation agreement to amend their counterclaim and cross-claim to allege claims under California law, ruling that Applied Underwriters Captive Risk Assurance Co. will not be prejudiced by such an amendment.


Parties in $3.85 Million Dispute in Settlement Talks, According to Status Report

The parties in a $3.85 million reinsurance dispute involving workers’ compensation losses have informed a New York federal judge that they have complied with an interim final arbitration award and are in settlement talks to resolve the remaining issues.


Reinsurers Seek Arbitration of $56 Million Puerto Rico Hurricane Lawsuit

A group of reinsurers have moved to dismiss a cedent’s lawsuit seeking more than $56 million in reinsurance coverage for claims arising from two hurricanes that devastated Puerto Rico in September 2017.


Peter Bickford Tapped to Preside Over $1.47 Million Reinsurance Arbitration

A New York judge has tapped Peter Bickford to serve as umpire in a reinsurance arbitration in which a cedent seeks $1.47 million in reinsurance coverage for underlying asbestos claims filed against its insured, California Portland Cement Co.


D.C. Federal Judge Allows $26 Million Lawsuit to Proceed Against 3 Reinsurers

A D.C. federal judge has refused to dismiss an amended complaint accusing a group of reinsurers of breaching an implied contract by refusing to pay a $26 million arbitration award issued in favor of Vantage Commodities Financial Services Inc.


Odyssey Re’s Fraudulent Transfer Claims Against Claims Adjustor, CEO to Proceed

A California federal judge has refused to dismiss fraudulent transfer claims asserted against a claims adjustor and its chief executive officer in an action in which Odyssey Reinsurance Co. seeks payment of a $3.2 million judgment.


Parties Drop Dispute Over Whether $3.7 Million Reinsurance Case Should be Arbitrated

Certain Lloyd’s of London Underwriters has agreed to dismissal of its dispute with a group of insurers over whether a $3.7 million reinsurance dispute should be arbitrated, according to a joint stipulation of dismissal filed before a Maryland federal judge.


N.Y. Federal Judge Says RICO Claim Against Beechwood Re Violates PSLRA

A New York federal judge has dismissed claims that Beechwood Re and its founders violated the Racketeer Influenced Corrupt Organizations Act by investing $320 million of a health insurer’s assets with the affiliates of a failed Ponzi scheme.


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