Frank B. Hall & Co. v. Rushmore Insurance

OPINION

ROBERT L. CARTER, District Judge.

Defendant Rushmore Insurance Co., Ltd. (“Rushmore”) moves to dismiss the complaint brought by plaintiff Frank B. Hall & Co. Inc. (“Hall”). Defendant is a Bermuda Insurance Company that sought to enroll sports teams in an insurance scheme whereby the teams would insure with a domestic insurer and the domestic company would reinsure with defendant. If the teams became defendant shareholders, profits realized as a result of the teams’ good loss experience could be repaid to the teams as dividends to shareholders. Plaintiff had been servicing the insurance…