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Reinsurance
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Current Issue
Costa Rican Insurer Amends Complaint Against Brokers to Add Fraud Claims
A Florida state judge has allowed Instituto Nacional De Seguros to amend its second complaint against Hemispheric Reinsurance Group and Howden Insurance Brokers to add fraud claims accusing them of intentionally overcharging premium by “grossing up” and then covering up their wrongdoing.
American Medical Life Denied Partial Summary Judgment in Reinsurance Dispute with Guarantee Trust Life
An Illinois federal judge has denied American Medical Life and Insurance Co.’s motion for partial summary judgment in a dispute with Guarantee Trust Life Insurance Co., ruling that issues of fact exist as to whether GTL is bound under a reinsurance treaty covering AMLI’s limited medical insurance policies.
Pine Top Receivables May Not Compel Arbitration of $2 Million Reinsurance Dispute, Judge Rules
Pine Top Receivables of Illinois may not compel Banco de Seguros del Estado to arbitrate a $2 million reinsurance dispute, an Illinois judge has ruled, finding an agreement assigning certain collection rights to PTRIL did not convey the power to compel arbitration.
Coverage Dispute Does Not Fall Within ‘Narrow’ Arbitration Clause, N.Y. Federal Judge Rules
A New York federal judge has denied Lexington Insurance Co.’s motion to compel an insured to arbitrate an insurance dispute, finding the question of coverage does not turn on an interpretation of the policy as required by its narrowly-worded arbitration clause.
Travelers Seeks Enforcement of Alleged Reinsurance Settlement Agreement with Excalibur
The Travelers Indemnity Co. (NYSE: TRV) has asked a Connecticut federal judge to enforce a settlement agreement under which Excalibur Reinsurance Corp. allegedly agreed to pay $217,800 in past due reinsurance proceeds.
Cedent Asks N.Y. Federal Judge to Appoint Umpire in Arbitration with Clearwater Insurance
Atlanta International Insurance Co. has asked a New York federal judge to appoint an umpire to oversee its reinsurance arbitration with Clearwater Insurance Co., asserting Clearwater has refused to proceed with the parties’ agreed-upon umpire selection process.
OneBeacon Collaterally Estopped from Arbitrating Claims, Reinsurers Assert
National Casualty Insurance Co. and Employers Insurance Company of Wausau have asked a Massachusetts federal judge to rule that certain OneBeacon Insurance Group companies are collaterally estopped from arbitrating the same reinsurance claims that were at issue in a previous arbitration.
OneBeacon Fails to Show ‘Pressing Need’ For Stay of Reinsurance Action, Wausau Asserts
Employers Insurance Company of Wausau has opposed OneBeacon Insurance Co.’s (NYSE: OB) motion to stay a $600,000 reinsurance action, asserting OneBeacon has failed to show there is a “pressing need” for such an “indefinite” stay.
N.Y. Federal Judge Confirms Arbitration Award, Resolving $2.9 Million Reinsurance Dispute
A New York federal judge has granted Berkley Insurance Co.’s unopposed petition to confirm a reinsurance arbitration award that resolved its $2.9 million billing dispute with Excalibur Reinsurance Corp.
"Catastrophe Bond Market Fosters Innovation and Competition with the Traditional Reinsurance Market"
Roland C. Goss of Jorden Burt discusses significant developments in both the catastrophe bond and traditional reinsurance markets.
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