Parties Agree to Dismissal of Reinsurance Dispute Involving Sexual Misconduct Claims

FLINT, Mich. — A Michigan federal judge has agreed to dismiss with prejudice an action in which a captive insurer sought reinsurance proceeds from Munich Reinsurance America Inc. for the University of Michigan’s settlement of sexual misconduct claims.

In an April 12 order, Judge Stephanie D. Davis of the U.S. District Court for the Eastern District of Michigan explained the parties stipulated to dismissal of the case without costs.

Veritas Insurance Corp. is the captive insurer for the Regents of The University of Michigan and insured the university under an Educators Legal Liability (ELL) policy and an umbrella liability policy …