Reinsurers Say $150M Insurance Suit Can't Go To Local Court

Law360 (August 22, 2019, 7:28 PM EDT) -- Reinsurers looking to force arbitration of a $150 million suit over the payment of claims arising from Hurricanes Irma and Maria have said the dispute doesn't belong in a local San Juan court, urging a Puerto Rico federal court to reject a financially troubled insurer's bid to remand.

Integrand Assurance Co. accuses the reinsurers of causing "irreparable harm" to Puerto Rico's insurance industry by colluding to delay payment of those claims. Integrand is currently subject to a rehabilitation order issued by a local San Juan court in May, after the insurer admitted late last year that its reinsurance coverage in the wake...

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