Captive Reinsurance Arrangements And Class Actions

Law360, New York (December 9, 2009, 1:43 PM EST) -- A number of recent consumer class actions have been based on theories that a reinsurance relationship has been used to mislead or defraud consumers or to deprive them of their rights under consumer protection statutes.

Typically, these cases involve situations in which the consumer is contractually required to purchase insurance in order to protect the defendant.

Personal mortgage insurance (“PMI”) and insurance to protect the lessor of equipment are two examples of types of insurance that have given rise to these claims.

The lawsuits allege that...
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