Florida Risk Pool Appealing Summary Judgment Award to Munich Re in $1 Million Action

TAMPA, Fla. — A Florida risk management pool is appealing a federal judge’s ruling that Munich Reinsurance America Inc. does not have to pay $1 million in reinsurance proceeds for the pool’s settlement of an underlying lawsuit against the City of St. Pete Beach.

According to a May 24 filing, the 11th Circuit U.S. Court of Appeals will review the judge’s determination that the City’s wrongful acts date back to 2005 and therefore coverage under the pool’s underlying Coverage Document and the Reinsurance Agreement was not triggered.

Public Risk Management of Florida (PRM) is a self-insured intergovernmental risk management pool. …