Reinsurance & Arbitration
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Issue #144, March 2020
Senior Health Insurance Company of Pennsylvania has opposed a motion for summary judgment filed by two financial advisors on claims accusing them of providing the insurer with false valuation reports, causing it to sink $320 million in the troubled Platinum Partners hedge fund.
A Massachusetts federal judge has stayed counterclaims asserted by Lamorak Insurance Co. against an English reinsurer in a reinsurance coverage action in light of the reinsurer’s recent bankruptcy order.
An Oklahoma federal judge has set aside a default judgment issued in an action in which a reinsurer is disclaiming its obligation to provide coverage to a telecommunications company and its employee for a 2016 deadly vehicle accident.
Brendan Gooley of Carlton Fields discusses the 1st Circuit U.S. Court of Appeals' recent denial of a corporation’s numerous arguments seeking to vacate an arbitration award in favor of the individual who sold an entity to the corporation.
A New Jersey federal judge has dismissed for lack of jurisdiction a lawsuit against Aon Risk Services Companies Inc., accusing it of failing to timely notify insurers of claims arising from the PA/LMX reinsurance program.
Global Reinsurance Corporation of America’s obligation to pay defense costs to its cedent, Century Indemnity Co., is not capped when the reinsurer pays losses, a New York federal judge has ruled following an evidentiary hearing.
A New York federal judge has refused to amend her findings of fact concerning testimony presented at trial in a dispute over whether Munich Reinsurance America Inc. wrongly refused to pay its share of defense expenses that Utica Mutual Insurance Co. incurred in connection with asbestos claims filed against Goulds Pumps Inc.
Issue #143, February 2020
Two financial advisors have moved for summary judgment on claims accusing them of providing Senior Health Insurance Company of Pennsylvania with false valuation reports, causing it to sink $320 million in the troubled Platinum Partners hedge fund.
A North Carolina federal judge has refused to dismiss or transfer an insurance coverage action, ruling that the policy’s “service-of-suit” provision required the insurer to consent to the court of the policyholder’s choosing and that the insurer waived its right to contest personal jurisdiction.
The liquidator of Integrand Assurance Co. told a Puerto Rico federal judge that it wants to voluntarily dismiss its lawsuit against policyholder Puma Energy Caribe LLC, noting that part of the complaint was mooted when the insurer was placed into liquidation.