Insurer Asks Texas High Court To Void $26M Arbitration Award

Law360, Dallas (November 6, 2013, 6:40 PM EST) -- Insurer Americo Life Inc. on Wednesday asked the Texas Supreme Court to throw out a $26.4 million arbitration award after the American Arbitration Association removed the insurer's choice for a panelist according to a standard the parties had never agreed upon.

The panel in question awarded Robert Myer and his Strider Marketing Group Inc. damages for an alleged breach of a financing agreement in a dispute with a group of five insurance companies, including Americo and the Great Southern Life Insurance Co. Under a 1998 agreement,...
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