American Heritage Demands Reinsurers Post $6M

Law360, New York (February 24, 2010, 1:37 PM EST) -- American Heritage Life Insurance Co. has filed suit against a company that specializes in automotive dealership insurance products, seeking to hold the company to an arbitration panel’s order demanding $6 million in security in connection with a contract dispute.

The life insurance insurer filed a petition against Southwest Reinsure Inc. and other defendants, including Sandia Life & Casualty Insurance Co. Ltd., to confirm the arbitration award on Tuesday in the U.S. District Court for the Middle District of Florida.

The award required the defendants to post...
To view the full article, register now.