Editor, Mealey's Litigation Reports: Reinsurance and Insurance Insolvency

MIAMI — Florida law prohibits a claimant from transferring her rights to settlement payments, therefore a related arbitration award requiring a reinsurer to make those payments is unenforceable, a federal judge ruled Aug. 13 (R&Q Reinsurance Co. v. Rapid Settlement Ltd., et al., No. 06-14329, S.D. Fla.; 2007 Dist. LEXIS 59179).

 

U.S. Judge K. Michael Moore of the Southern District of Florida granted R&Q Reinsurance Co.’s petition to enjoin Rapid Settlement Ltd. from seeking confirmation of the award in Texas state court.

 

Further coverage and documents available in the Sept. 7 issue of Mealey's Litigation Report: Reinsurance