Reinsurance & Arbitration
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A New York federal judge has scheduled a jury trial in a dispute over whether Century Indemnity Co. breached two reinsurance certificates by refusing to pay costs incurred by Utica Mutual Insurance Co. in defending underlying asbestos exposure lawsuits.
The parties in a $1.7 million reinsurance action involving an underlying asbestos settlement are urging a New York federal judge to consider their renewed cross-motions for summary judgment, noting the motions were filed in May 2016.
Transatlantic Reinsurance Co. has moved to dismiss claims asserted against it by the owner of a Nicaraguan plastics factory who is seeking coverage for a 2003 fire that occurred at the plant, arguing he was not a party to the reinsurance contract at issue.
A Florida risk management pool has moved for summary judgment in its action seeking nearly $1 million from Munich Reinsurance America Inc. for its settlement of an underlying lawsuit filed against the City of St. Pete Beach.
International organizations, such as foreign banks, have the same level of immunity from lawsuits as foreign governments and can be sued if their actions fall within one of the exceptions to the Foreign Sovereign Immunities Act, the U.S. Supreme Court has ruled.
A South Carolina federal judge has denied a bank’s motion for summary judgment on claims that it breached its duties as the trustee of funds set aside to secure a fronting insurer’s reinsurance obligations, ruling that the claims are timely.
A bench trial was held in Illinois federal court in a dispute between an insurance fund and a railroad over reinsurance coverage for mine subsidence damage claims.
An Oregon federal judge has stayed a case in which a health insurer has sued Swiss Re Life & Health for $1.8 million in reinsurance coverage for claims arising from a member’s hemophilia treatment and unrelated surgeries.
Issue #131, February 2019
Top’s Personnel Inc. has objected to a Nebraska federal magistrate judge’s recommendation that its motion for class certification in an Applied Underwriters Inc. (AUI) fraud case be denied, arguing that the requirements of numerosity, commonality and typicality have been met.
Wells Fargo Bank and a captive insurer have dropped their lawsuit against Lloyd’s of London seeking reinsurance coverage for their settlement of lawsuits arising from securities lending agreements executed by subsidiaries of Wachovia Corp.