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Assurant Cos. Seek $20M From Failed Reinsurer

Law360 (March 11, 2009, 12:00 AM EDT) -- Four entities of specialty insurance provider Assurant Solutions have filed suit against defunct reinsurance carrier Inter-Ocean Reinsurance Co. Ltd. accusing the reinsurer of breach of contract in failing to cover about $20 million of Assurant’s aggregate losses.

The companies — American Bankers Insurance Co. of Florida, American Reliable Insurance Co., Bankers Atlantic Reinsurance Co. and Caribbean American Property Co. — filed the suit in the U.S. District Court for the Southern District of Florida against the reinsurer, which was placed in run-off in April 2005....
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