Beasley Allen currently represents Leslie Newman, Commissioner of Commerce and Insurance for the State of Tennessee, against several high-profile Defendants including General Reinsurance (GenRe). GenRe Corporation, a subsidiary of Berkshire Hathaway Inc., is a holding company for global reinsurance and related operations.
A reinsurance company is simply a corporation that insures other insurance companies. Three insurance companies operating in Tennessee: American National Lawyers Insurance Reciprocal, Doctor's Insurance Reciprocal, and The Reciprocal Alliance, wrote more policies than they could cover. The Companies were subsequently placed in Receivership by the State's Insurance Commissioner. These companies were reinsured by GenRe, and it is alleged that GenRe's influence led to their demise.
Beasley Allen is attempting to recoup monies fraudulently withheld from thousands of policy holders. These policy holders include doctors, lawyers, and various hospital organizations. The case against GenRe was originally filed in Federal District Court for the Westren District of Tennessee. Recently the case was re-filed in Tennessee State Court.