Aioi Seeks Summary Judgment in Reinstatement Premium Overbilling Action

NEW YORK - A Japanese reinsurer has moved for summary judgment in a suit accusing ProSight Specialty Management Company Inc. of submitting inflated billings under reinstatement premium protection contracts. Aioi Nissay Dowa Insurance Co. Ltd. v. ProSight Specialty Management Company Inc., No. 11-1330 (S.D. N.Y.).

In its Dec. 16 motion, filed in the U.S. District Court for the Southern District of New York, Aioi Nissay Dowa Insurance Company Ltd. says there is no evidence to support ProSight's assertion that its billings were for reinstatement premiums that it paid.

Aioi agreed to reinsure ProSight for aviation losses. Aioi's managing general agent, …