Legacy books of business are often handed over to an agent to run off the business. This handover can happen through a simple third-party administrator contract, via a portfolio transfer or as part as an outright purchase of the legacy company. The legacy transfer process may involve direct business or reinsurance business, and may be in the property and casualty arena or the life and health segment of the industry.

In a recent case, a court was asked to address claims brought by cedents against the reinsurer’s runoff manager for intentional interference with contractual relations and inducing breach of contract when the claims stopped being paid.

Continue reading “Reinsurance Runoff Manager’s Motion to Dismiss Denied” →