STORY FROM: Reinsurance & Arbitration
Lloyd’s Underwriters Say $3.7 Million Reinsurance Dispute Not Arbitrable
January 16, 2019
BALTIMORE — Certain Lloyd’s of London Underwriters say they should not be required to arbitrate a $3.7 million reinsurance dispute because the reinsurance contract and its arbitration clause are void ab initio due to misrepresentations made by the cedents during the contract’s formation.
In a Jan. 11 brief filed in the U.S. District Court for the District of Maryland, Underwriters contend that due to the cedents’ fraudulent actions, there is no contract pursuant to which either party can seek enforcement, including seeking the right to demand arbitration.
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