Jasbir S. Thandi and Global Century Insurance Brokers, Inc. (GBIC), defendants in the United States District Court for the District of Vermont (Vermont District Court) lawsuit regarding Global Hawk Insurance Company Risk Retention Group (Global Hawk) have defaulted. The Plaintiff, Vermont Department of Financial Regulation (Vermont DFR) Commissioner and Global Hawk Liquidator Kevin J. Gaffney, is now seeking a default ...

The Vermont Department of Financial Regulation (Vermont DFR) has filed a lawsuit against Crowe, LLP for audit reports it produced for the now insolvent Global Hawk Insurance Company Risk Retention Group (Global Hawk). The complaint includes claims of alleged negligence, negligent misrepresentation, and breach of contract for the years` ranging from 2016 to 2018. The complaint was initially filed by ...

By Andrew P. MorrissProfessor, Bush School of Government & Public Service and School of LawTexas A&M University In creating risk retention groups and purchasing groups, Congress created what has become a vibrant “law market” for insurance regulation, providing a model for successful harnessing of competition to improve the legal system. In a forthcoming article in the Journal of Special Jurisdictions, ...