Fla. Magistrate Judge Recommends Summary Judgment to Munich Re in $1 Million Action

TAMPA, Fla. — A Florida federal magistrate judge has recommended an award of summary judgment to Munich Reinsurance America Inc. which would relieve it of having to pay $1 million in reinsurance proceeds to a risk management pool for settlement of an underlying lawsuit against the City of St. Pete Beach.

In a Jan. 21 report and recommendation, Magistrate Judge Anthony E Porcelli of the U.S. District Court for the Middle District of Florida agreed with Munich Re that the City’s wrongful acts date back to 2005, which would not trigger the pool’s underlying Coverage Document or the Reinsurance Agreement.