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Insolvencies of ex-MRM subsidiaries balloon in 2006

March 9, 2007
The net insolvencies of two former operating subsidiaries of Bermuda-based Mutual Risk Management Ltd. rocketed from $334.3 million to $852.6 million in 2006, according to their liquidator. The deficits of Legion Insurance Company and Villanova Insurance Company increased from $225.3 million to $614 million and from $109 million to $238.6 million, respectively, during the year.

Bermuda firm seeks to avoid coverage

August 4, 2005
A Bermuda-registered firm is seeking a court declaration that it is not liable for insurance claims arising from a collision between a train and a car in Louisiana in 2001.Details are contained in a civil complaint that was filed at the U. S. District Court for the District of Vermont on July 11, 2005.

Mutual Risk Management finally files 2001 financials

November 30, 2002
At a time when Mutual Risk Management was desperate for cash to meet its liabilities, its then Chairman and CEO, Robert Mulderig, owed the firm an advance of $318,303, according to an SEC filing. Details of the debt, which has

American Re claims ‘deception’ regarding coverage for Business Insurance Group

October 31, 1999
American Re has claimed it was duped into providing $175 million of workers' compensation reinsurance coverage for Superior National Insurance Company subsidiary Business Insurance Group.The allegation is contained in American Re's answer to a lawsuit brought against it and Bermuda-based Inter-Ocean Reinsurance Company by Superior National Insurance Company in the Superior Court of California.

Inter-Ocean Re/Superior National to arbitrate $175 m contract

August 31, 1999
An arbitration between Bermuda-based Inter-Ocean Reinsurance Company and Superior National Insurance Company over a $175 million contract could take place before the end of the year. The dispute relates to coverage Inter-Ocean provided to US-based Business Insurance Group - now a subsidiary of Superior National - and 100 per cent reinsured by American Re.