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Reinsurance Accounting Fraud

Carlton Fields

Eighth Circuit Affirms Dismissal of RICO Claim in So-Called Shadow Insurance Suit

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In Ludwick v. Harbinger Group, the U.S. Court of Appeals for the Eighth Circuit affirmed the dismissal under the McCarran-Ferguson Act of a federal RICO claim against Fidelity & Guaranty (and its owner and several affiliates)...more

Carlton Fields

Federal Court Finds That The Mccarran Ferguson Act Bars Plaintiff’s RICO Claims Arising From Certain Reinsurance Transactions

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In a putative class action seeking damages for alleged violations of the Racketeer Influenced and Corrupt Organizations Act (“RICO”) arising from certain reinsurance transactions, the United States District Court for the...more

Carlton Fields

Statutory Accounting Fraud Under RICO

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Echoing New York’s regulatory criticism concerning the use of captive reinsurers and similar allegations in recent class actions filed against several New York life insurers, an annuity contract owner has filed a putative...more

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