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Issue #11, February 2009

Judge Dismisses Petition to Confirm Award in $1.7 Million Case

In a $1.7 million dispute involving asbestos and pollution losses, a federal judge dismissed for lack of jurisdiction a petition to confirm


Insured May Not Proceed Directly Against Reinsurer

A policyholder may not sue a reinsurer directly to collect on a default judgment rendered against a now-insolvent insurer because the reinsurance contract


Judge Remands Fraudulent Transfer Action Against Gen Re

A federal judge has remanded an action brought by the receiver of Aries Insurance Co. to recover allegedly improper and fraudulent transfers


Allied World Refutes $947,927 Reinsurance Claim

In response to a $947,927 breach of contract claim, Allied World Insurance Co. asserts that it has paid its share of losses and expenses under


Reinsurer's Suit Against Access General Survives Dismissal

A federal judge has refused to dismiss a suit brought by Swiss Reinsurance America Corp. that accuses a group of reinsurance administrators of


Covenant Counterclaims Against Arrowood for $157,182

A reinsurance program administrator has counterclaimed against Arrowood Indemnity Co. in federal court, seeking $157,182


'Run-Off Option' Extended Reinsurance Coverage, Arrowood Asserts

Arrowood Surplus Lines Co. is refuting Westport Insurance Corp.'s assertion that Arrowood is not entitled to $6.8 million in reinsurance coverage for


Investors Denied Priority Access to Reinsurance Proceeds

A federal court properly dismissed a counterclaim brought by investors seeking a constructive trust over proceeds from the settlement of reinsurance claims


Former AIG Exec Sentenced to Four Years in Prison

A federal judge has sentenced former American International Group vice president Christian M. Milton to four years in prison and


Federal Judge Confirms Allocation Award in Favor of TIG

An arbitration award stating that Global International Reinsurance Company Ltd. had released its right to audit and dispute claims reported


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