Title insurer cannot subrogate to rights of prior lienholders

Article Abstract:

A title insurer is not entitled to subrogation to status of prior lienholder when it fails to find a federal tax lien that is properly recorded. In a case involving the Internal Revenue Service and the Universal Title Insurance Co, a district court ruled that Universal is not entitled to subrogation rights because it did not pay for the title in question, its failure in identifying the federal tax lien was not an 'excusable mistake of fact' and such rights are not applicable to the government.

Title Insurance, Subrogation, Minnesota, First American Title Insurance Co. Universal Title

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The arbitration tug-of-war

Article Abstract:

The debate over arbitration versus litigation continues when reinsurers are confronted with receivers. The debate may end with a case on appeal in the US Supreme Court. At question is a state law preempting federal insolvency statutes. Liquidators would rather litigate, and reinsurers would rather arbitrate. With the final ruling on the US Department of the Treasury vs Fabe, the decision to litigate or arbitrate may be finally settled.

INSURANCE CARRIERS, Reinsurance, Commercial arbitration agreements, United States. Department of the Treasury

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Health insurer's "blue" status not jeopardized by conversion

Article Abstract:

The Internal Revenue Service (IRS) ruled that a nonprofit health insurance company which changes from a non-stock to a mutual fund portfolio will continue to be known as a Blue Cross/Blue Shield organization. The IRS held that the change is not a material change to the insurer's management. This ruling is seen as advantageous to non-profit health insurers because it lowers the amount of tax they must pay.

Accident and health insurance, Nonprofit organizations, Health insurance industry, Blue Cross and Blue Shield Association

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