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Breach of Contract › Reinsurance › Rescission

Carlton Fields

Ninth Circuit Upholds Denial Of Judgment Creditor’s Request For Rescission Of Quota-Share Reinsurance Agreement

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Defendant National Farm Financial Corp. agreed to sell Business Alliance Insurance Co. (BAIC) to PSM Holding Corp. After National Farm walked away from the deal, PSM sued National Farm, BAIC, and BAIC’s president, Larry Chao,...more

Carlton Fields

Court Compels Arbitration To Determine The Arbitrability Of Reinsurance Dispute With Captive Insurance Company

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In a suit by an auto body company against a captive insurance company for rescission of certain workers compensation reinsurance participation agreements, for disgorgement of $70,000 paid thereunder, and for fraud, breach of...more

Carlton Fields

Third Circuit Evaluates The Definition Of “Materiality” In Rescission Claims

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In a case on which we previously reported, the Third Circuit recently evaluated the legal standard for determining materiality in a claim for rescission of an insurance contract. The case involved a dispute between two...more

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