Canal Insurance Withdraws Motion to Remand $11.3 Million Reinsurance Action

ATLANTA — Canal Insurance Co. has withdrawn its motion to remand its $11.3 million reinsurance fraud action brought against Golden Isles Insurance Co., conceding there is complete diversity between the parties and the jurisdictional threshold has been met because the amount in controversy exceeds $75,000.

In a Nov. 12 filing in the U.S. District Court for the Northern District of Georgia, Canal explained that it wants to “move forward with the case and resolve the jurisdictional dispute currently pending before the court by waiving the forum defendant rule against removal.”

Golden Isles issued Canal Insurance Co. two reinsurance contracts in …