Katrina Reinsurance Case Moves On To Trial

Law360, New York (February 20, 2009, 12:00 AM EST) -- A lawsuit accusing five major insurance providers that served on the board of a Mississippi state-mandated insurance association of failing to purchase enough reinsurance prior to Hurricane Katrina will go to trial now that a federal judge has denied the insurance companies' motion for summary judgment.

The defendants — Allstate Insurance Co., Nationwide Insurance Cos., State Farm Fire and Casualty Co., Farm Bureau Mutual Insurance Co. and St. Paul Travelers Cos. — had argued that they did not owe any fiduciary duties to the plaintiffs and...
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