Reinsurance & Arbitration
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Issue #133, April 2019
A landscaping company will not challenge a California federal judge’s confirmation of an arbitration award issued in favor of Applied Underwriters Captive Risk Assurance Co. (AUCRA).
A captive reinsurer has moved to dismiss a purported class action accusing it of siphoning assets from an employee benefit plan, arguing the plaintiffs lack standing because they have no concrete or particularized individual loss from the alleged ERISA violations.
A Florida federal judge has granted Transatlantic Reinsurance Co.’s motion to strike an amended complaint in which the owner of a Nicaraguan plastics factory is seeking insurance coverage for a 2003 fire, ruling that the pleading was improperly filed.
Brendan N. Gooley of Carlton Fields discusses a recent decision in which the Northern District of Illinois held that it lacked subject-matter jurisdiction to confirm an arbitration award because the arbitrators’ work was incomplete and the arbitration hearing wasn’t finished.
A lawsuit targeting Applied Underwriters Inc.’s EquityComp workers’ compensation program should not be arbitrated because the arbitration provision in one of the agreements was never approved by the California insurance commissioner and is therefore void, a California appellate court has affirmed.
An insurer has sued The Hartford Steam Boiler Inspection and Insurance Co. for more than $8.6 million in reinsurance proceeds for losses sustained by an organic date farm following an electrical power outage.
A New York federal judge has ruled that Munich Reinsurance America Inc. did not breach a reinsurance agreement by refusing to pay its share of $2.76 million in defense expenses that Utica Mutual Insurance Co. incurred in connection with asbestos claims filed against its policyholder, Goulds Pumps Inc.
An Illinois federal judge has refused to stay an action in which a reinsurer seeks to confirm an arbitration award issued in its favor and against the liquidator of Legion Indemnity Co., ruling that adjudication of the petition would not “invalidate, impair or supersede” state insurance liquidation laws.
A South Carolina federal judge has denied U.S. Bank National Association’s motion for summary judgment on a civil conspiracy claim in a lawsuit accusing of breaching its duties as the trustee of an account securing an insurer’s liabilities in a fronting program.
In a new lawsuit filed in California federal court, Insurance Company of the State of Pennsylvania accuses two reinsurers of refusing to pay their share of a settlement of asbestos claims filed against C.F. Braun & Co.