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Reinsurers Not Liable for Defense Costs Exceeding Policy Limits


Reinsurers Not Liable for Defense Costs Exceeding Policy Limits
Two reinsurers that shared part of the risk on a $25 million umbrella policy issued to a New York manufacturer nearly five decades ago are not liable for defense costs in addition to the policy limits, the 2nd Circuit Court of Appeals ruled Thursday.
What’s more, one of the reinsurers is entitled to a new trial to settle the question of whether it is a valid successor to the insurance contract, the appellate panel ruled.
The decision affirmed a ruling by U.S. District Brenda K. Sannes and reversed a jury decision and jury instructions issued by U.S. District Judge David N. Hurd. ....

New York , United States , Seneca Falls , Seaburys Goulds , Garyl Wickert , Davidn Hurd , Brendak Sannes , Utica Mutual Insurance Co , Century Indemnity Co , Goulds Pumps Inc , Circuit Court , Insurance Co , Reinsurance Co , Judge David , Northern District , Munich Reinsurance America , Century Indemnity , Utica Mutual Insurance , Goulds Pumps , Claims Journal , Judge Sannes , North America , புதியது யார்க் , ஒன்றுபட்டது மாநிலங்களில் , ஸெநெக விழும் , உதிக்க பரஸ்பர காப்பீடு இணை ,

District Court Predicts that Alabama Supreme Court Would Refuse to Extend Bad Faith to Reinsurance Disputes | Carlton Fields


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The United States District Court for the Middle District of Alabama recently predicted that the Alabama Supreme Court would refuse to recognize bad faith claims in the context of reinsurance disputes if it was presented with the question. The district court therefore granted a reinsurer’s motion to dismiss several bad faith claims against it.
Alabama Municipal Insurance Corporation (“AMIC”) sued Munich Reinsurance America, Inc. for purportedly underpaying several reinsurance claims by approximately $1.9 million. AMIC asserted bad faith claims as part of its suit. Munich Re moved to dismiss those claims, arguing Alabama does not (or rather, would not) recognize bad faith in the context of reinsurance disputes. ....

United States , Alabama Supreme Court , United States District Court , Munich Reinsurance America Inc , Alabama Municipal Insurance Corporation , Middle District , Municipal Insurance Corporation , Munich Reinsurance America , ஒன்றுபட்டது மாநிலங்களில் , அலபாமா உச்ச நீதிமன்றம் , ஒன்றுபட்டது மாநிலங்களில் மாவட்டம் நீதிமன்றம் , முனிச் மறுகாப்பீடு அமெரிக்கா இன்க் , அலபாமா நகராட்சி காப்பீடு நிறுவனம் , நடுத்தர மாவட்டம் , முனிச் மறுகாப்பீடு அமெரிக்கா ,

Munich Re US president and CEO to step down; successor revealed


Munich Re US president and CEO to step down; successor revealed
12-01-2021
15-02-2021
Munich Reinsurance America s president and chief executive officer (CEO) M. Steven Levy will step down with effect from April 1, after 23 years with the company.
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New South Wales , New Jersey , United States , Anthony Kuczinski , Munich Re Us Holding , Munich Reinsurance America , Marcus Winter , Munich Re , M Steven Levy , North America , புதியது தெற்கு வேல்ஸ் , புதியது ஜெர்சி , ஒன்றுபட்டது மாநிலங்களில் , முனிச் ரே எங்களுக்கு வைத்திருத்தல் , முனிச் மறுகாப்பீடு அமெரிக்கா , மார்கஸ் குளிர்காலம் , முனிச் ரே , மீ ஸ்டீவன் வசூல் செய்தல் , வடக்கு அமெரிக்கா ,