Risk Pool Objects to Fla. Magistrate Judge’s Recommendation in $1 Million Reinsurance Action

TAMPA, Fla. — A risk management pool has objected to a Florida federal magistrate judge’s recommendation of an award of summary judgment to Munich Reinsurance America Inc. that would relieve the reinsurer of having to pay $1 million for the pool’s settlement of an underlying lawsuit against the City of St. Pete Beach.

In a Feb. 18 filing in the U.S. District Court for the Middle District of Florida, Public Risk Management of Florida contends that Magistrate Judge Anthony E. Porcelli should have ruled that the “follow the fortunes” doctrine prevents Munich from conducting a de novo coverage review of …