Insurers Win $11M In IRC Reinsurance Fight

Law360, New York (May 24, 2011, 3:50 PM EDT) -- A Massachusetts federal judge on Monday awarded more than $8.3 million in damages and $2.6 million in fees to Trenwick America Reinsurance Corp. and Unum Life Insurance Co. in their suit accusing IRC Inc. of breaching an employment program reinsurance contract.

U.S. District Judge Nancy Gertner approved the entry of $4.1 million in damages, which were doubled after the court found IRC liable for breaching a reinsurance contract to provide retrocessional coverage for a managed workers' compensation insurance and employers liability program known as Compcare 2000....
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