Reinsurer Wants $100M Back After 'Falsified' Storm Report

Law360, New York (July 11, 2013, 1:53 PM ET) -- The liquidators of Mariah Re Ltd. have launched a $100 million suit against American Family Mutual Insurance Co., ISO Services Inc. and AIR Worldwide Corp. in New York federal court, claiming a doctored report let American Family score more reinsurance than it was owed for a severe April 2011 storm.

Mariah, a special purpose vehicle created to provide reinsurance to American Family for severe weather-related losses, filed a complaint July 3, accusing the companies of flagrantly violating basic agreements that ensured its reinsurance was triggered only...
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