United Insurance Co. Seeks Injunction Against MGA

NEW YORK - A reinsurer seeks to enjoin a managing general agent from writing reinsurance on its behalf pending an arbitration in which it seeks to terminate the parties' binding authority agreement. United Insurance Company Ltd. v. World Wide Re, No. 11-1177 (E.D. N.Y.).

In a March 11 petition filed in the U.S. District Court for the Eastern District of New York, United Insurance Company Ltd. says it will suffer "irreparable harm" in the reinsurance market if World Wide Re continues to bind new reinsurances or renew existing contracts on the reinsurer's behalf.

In July 2009, UIC entered into a …