11th Cir. Upholds Award of Summary Judgment to Munich Re in $1 Million Reinsurance Case
July 14, 2022
ATLANTA — The 11th Circuit U.S. Court of Appeals has upheld an award of summary judgment to Munich Reinsurance America Inc., relieving 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 June 29 opinion, the appellate court affirmed that the City’s wrongful acts date back to 2005, therefore coverage under the pool’s underlying policy and the reinsurance agreement was not triggered.
In addition, the appellate court rejected the pool’s argument that the court should infer that the follow-the-fortunes doctrine …
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