{"id":4206,"date":"2026-04-17T14:05:29","date_gmt":"2026-04-17T14:05:29","guid":{"rendered":"https:\/\/www.insuracarelife.com\/blog\/fifth-circuit-revives-porch-com-claim-against-gallagher-re-over-vesttoo-fraud\/"},"modified":"2026-04-17T14:05:29","modified_gmt":"2026-04-17T14:05:29","slug":"fifth-circuit-revives-porch-com-claim-against-gallagher-re-over-vesttoo-fraud","status":"publish","type":"post","link":"https:\/\/www.insuracarelife.com\/blog\/fifth-circuit-revives-porch-com-claim-against-gallagher-re-over-vesttoo-fraud\/","title":{"rendered":"Fifth Circuit revives Porch.com claim against Gallagher Re over Vesttoo fraud"},"content":{"rendered":"<div>\n<p>The Section 13 claim, however, was a different story. The trial court had dismissed it on the basis that Porch&#8217;s allegations related only to the placement of the reinsurance, while the provision in question covered duties after placement. The Fifth Circuit disagreed, finding that Porch had in fact alleged a series of failures by Gallagher that occurred well after the deal was in place. Among them: Gallagher&#8217;s failure to recognize the difference between the Yu Po collateral letter and a letter of credit, its misrepresentation of the collateral letter as a letter of credit, its failure to flag red flags throughout the transaction process, its assurances that the collateral was valid, and its assurance that HOA could safely allow Vesttoo&#8217;s $25 million withdrawal from the reinsurance account.<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>The Section 13 claim, however, was a different story. The trial court had dismissed it on the basis that Porch&#8217;s allegations related only to the placement of the reinsurance, while the provision in question covered duties after placement. The Fifth Circuit disagreed, finding that Porch had in fact alleged a series of failures by Gallagher [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":4207,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[1625,389,234,286,2979,1397,2980],"class_list":["post-4206","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog","tag-circuit","tag-claim","tag-fraud","tag-gallagher","tag-porch-com","tag-revives","tag-vesttoo"],"_links":{"self":[{"href":"https:\/\/www.insuracarelife.com\/blog\/wp-json\/wp\/v2\/posts\/4206","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.insuracarelife.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.insuracarelife.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.insuracarelife.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.insuracarelife.com\/blog\/wp-json\/wp\/v2\/comments?post=4206"}],"version-history":[{"count":0,"href":"https:\/\/www.insuracarelife.com\/blog\/wp-json\/wp\/v2\/posts\/4206\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.insuracarelife.com\/blog\/wp-json\/wp\/v2\/media\/4207"}],"wp:attachment":[{"href":"https:\/\/www.insuracarelife.com\/blog\/wp-json\/wp\/v2\/media?parent=4206"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.insuracarelife.com\/blog\/wp-json\/wp\/v2\/categories?post=4206"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.insuracarelife.com\/blog\/wp-json\/wp\/v2\/tags?post=4206"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}