Reinsurers Freed From Battle Over Finance Co.'s $26M Award


Law360 (August 7, 2018, 11:27 PM EDT) — A District of Columbia federal judge on Monday dismissed Vantage Commodities Financial Services LLC’s claims that seven reinsurers must help cover a $26 million arbitration award that the finance company won against its insurer, but he allowed Vantage to proceed with negligence claims against the broker that lined up the reinsurance coverage.

In a multipronged opinion, U.S. District Judge Trevor N. McFadden granted motions to dismiss filed by Partner Reinsurance Europe PLC, Catlin Re Switzerland and five other reinsurance carriers, which collectively backed a “credit insurance”…

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