Penn National Committed Up To $50M Fraud, Reinsurer Claims

Law360, New York (August 16, 2013, 4:25 PM EDT) -- A reinsurer on Thursday accused Pennsylvania National Mutual Casualty Insurance Co. of committing fraud to score a discount of up to $50 million on reinsurance for its exposure to lead paint injury claims through a landlord insurance program.

Tawa PLC and others sued Penn National in Delaware federal court, demanding a rescission of the reinsurance coverage provided to Penn for lead paint risks arising between 1991 and 1997 at residential properties near Baltimore. The reinsurance covered claims that lead paint at the insured residences mentally impaired...
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