S.C. Federal Judge Reserves Damages Issue for Trial in Reinsurance Trust Action

COLUMBIA, S.C. — A South Carolina federal judge has denied U.S. Bank National Association’s request to cap Accident Insurance Co.’s damages in a lawsuit accusing the bank of breaching its duties as the trustee of a reinsurance account.

In an April 11 order, Judge J. Michelle Childs of the U.S. District Court for the District of South Carolina denied the bank’s motion for partial summary judgment on the damages issue, ruling that the question must be resolved by a factfinder at trial.

In April 2013, Accident Insurance Co. entered into a reinsurance contract with Freestone Insurance Co. as part of …