Judge Enjoins World Wide Re from Writing Reinsurance

NEW YORK - A New York federal judge has adopted a magistrate judge's recommendation that a managing general agent be enjoined from writing reinsurance on United Insurance Company Ltd.'s behalf pending an arbitration in which UIC seeks to terminate the parties' binding authority agreement. United Insurance Company Ltd. v. World Wide Re, No. 11-1177 (E.D. N.Y.).

Chief Judge Carol A. Amon of the U.S. District Court for the Eastern District of New York agreed with Magistrate Judge Joan M. Azrack that UIC will suffer "irreparable harm" in the reinsurance market if World Wide Re continues to bind new reinsurances or …