Texas High Court Axes Modified Insurance Contract Ruling

Law360, Houston (May 31, 2013, 8:36 PM EDT) -- The Texas Supreme Court on Friday reversed a lower court's finding that Arch Reinsurance Co. is bound by a modification of a three-way agreement with Underwriters Service Agency Inc. and State National Co. after the companies announced they settled the dispute.

Granting dual motions of Arch and Underwriters, the high court overturned a decision by the Second District Court of Appeals, which held that although State National did not sign off on the altered agreement, it was nonetheless enforceable against Arch, which had approved the change....
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