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Reinsurance Judgment Creditors

Carlton Fields

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

Carlton Fields on

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

New Jersey’s “Direct Action Statute” Is Not A Bar To Judgment Creditor’s Coverage Action

Carlton Fields on

A New Jersey appellate court recently addressed that state’s “direct action statute,” concluding that it did not prevent judgment creditors from pursuing a coverage action arising out of an LMX reinsurance spiral. The...more

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