U. S. Reinsurance Corp. v. Humphreys
Appellate Division of the Supreme Court of the State of New York
1Opinion of the Court
OPINION OF THE COURT
Wallach, J.
Plaintiff is a reinsurance intermediary, brokering over $70 million worth of such contracts in 1992, from which it earned commissions and fees of nearly $9.9 million. Reinsurance is a device which matches a primary (or "ceding”) insurer with a secondary (or "assuming”) insurer. The reinsurer becomes an indemnitor of the primary insurer, allowing the latter to reduce the amount of its cash reserves required to be held for the protection of policyholders, thus increasing the company’s ability to underwrite other policies or make other investments.
According to…
2Cases cited6 opinions
- Ashland Management Inc. v. JanienNew York Court of Appeals · 1993
- Aetna Insurance v. CapassoNew York Court of Appeals · 1990
- Sybron Corp. v. WetzelNew York Court of Appeals · 1978
- Sau Thi Ma v. LienAppellate Division of the Supreme Court of the State of New York · 1993
- Pinto v. PintoAppellate Division of the Supreme Court of the State of New York · 1986
1 more not listed; retrieve them via the Exa API.
3Cited by13 opinions
- J. D. Structures, Inc. v. WaldbaumAppellate Division of the Supreme Court of the State of New York · 2001
- Sylmark Holdings Ltd. v. Silicone Zone International Ltd.New York Supreme Court · 2004
- Framapac Delicatessen, Inc. v. Aetna Casualty & Surety Co.Appellate Division of the Supreme Court of the State of New York · 1998
- U.S. Re Co. v. ScheererAppellate Division of the Supreme Court of the State of New York · 2007
- Terrell v. TerrellAppellate Division of the Supreme Court of the State of New York · 2001
8 more not listed; retrieve them via the Exa API.