STORY FROM: Reinsurance & Arbitration
Special Deputy Receiver Says Arbitration Clause Does Not Apply to $1 Million Reinsurance Dispute
September 6, 2017
AUSTIN, Texas — The special deputy receiver of Gramercy Insurance Co. has opposed an insurer’s motion to transfer and stay pending arbitration a case in which the SDR seeks payment of more than $1 million under a reinsurance agreement, arguing that the agreement’s forum selection clause and arbitration provision do not apply.
In a Sept. 5 opposition filed in the U.S. District Court for the Western District of Texas, the SDR explained that such clauses do not apply to turnover demands, which are special statutory filings authorized by the Texas Insurance Code.
“This turnover matter is part of the comprehensive ...
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