Legal
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The executive is charged with defrauding investors out of nearly $500mn. -
Clear Blue originally filed the suit in late 2023, alleging reckless conduct and misrepresentation.
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Jonathan Rinderknecht was arrested Tuesday on destruction of property charges.
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The violations included not using propertly appointed adjusters and failing to pay claims.
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The lawsuit is the latest development in the multi-billion dollar reinsurance scandal.
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The suit claims billions of dollars are being illegally withheld.
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The documents figure in a potential criminal case against a CCB employee.
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Florida’s top regulator says he’s eyeing eventual tweaks to the state’s cat fund, too.
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AIG, HDI Global and others have settled, while Chubb’s fight continues.
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The reinsurer said the probe concerns the alleged involvement of its former chairman.
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There are signs that Florida’s insurance industry is coming under increasing legislative scrutiny.
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The restructuring arrangement is designed to protect creditors.
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The regulations are part of a state effort to expand wildfire coverage.
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White Rock claims CCB was responsible for the “lion’s share” of fraudulent letters of credit.
