STORY FROM: Reinsurance & Arbitration
Reinsurers Seek Arbitration of $56 Million Puerto Rico Hurricane Lawsuit
May 1, 2019
SAN JUAN, Puerto Rico — A group of reinsurers have moved to dismiss a cedent’s lawsuit seeking more than $56 million in reinsurance coverage for claims arising from two hurricanes that devastated Puerto Rico in September 2017.
In various motions to dismiss filed in the U.S. District Court for the District of Puerto Rico, the reinsurers contend that plaintiff Integrand Assurance Co. is required to submit to arbitration pursuant to the reinsurance agreements’ “broad and mandatory” arbitration clause.
On Sept. 6, 2017, Hurricane Irma hit Puerto Rico, causing significant damage to the island’s infrastructure, properties and businesses, many of which ...
Motion to Dismiss