S.C. Federal Judge Approves Settlement of Dispute Over Trust Account Funds

COLUMBIA, S.C. — A South Carolina federal judge has approved a settlement agreement under which Madison Insurance Co. agreed to pay Regions Bank $52,650 to resolve a dispute over funds held in a trust account managed by the bank.

Judge Terry Wooten of the U.S. District Court for the District of South Carolina issued the order on May 7 and the parties stipulated to dismissal of the action the following day.

Greenlight Reinsurance Ltd. issued two one-year quota share reinsurance agreements to State National Insurance Co. and United Specialty Insurance Co., dated July 1, 2008, and July 1, 2010. …