American Heritage Demands Reinsurers Post $6M

Law360, New York (February 24, 2010, 1:37 PM EST) -- American Heritage Life Insurance Co. has filed suit against a company that specializes in automotive dealership insurance products, seeking to hold the company to an arbitration panel’s order demanding $6 million in security in connection with a contract dispute.

The life insurance insurer filed a petition against Southwest Reinsure Inc. and other defendants, including Sandia Life & Casualty Insurance Co. Ltd., to confirm the arbitration award on Tuesday in the U.S. District Court for the Middle District of Florida.

The award required the defendants to post...
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