Reinsurance & Arbitration
Reinsurance is an ever-changing industry and the competition is getting tougher. To maintain their edge, even the most seasoned litigators require an insider's knowledge of the latest news, issues and strategies. There's an easy way to stay on top all of the latest reinsurance-related legal developments. Subscribe to HarrisMartin's Reinsurance & Arbitration Report, a publication and online resource from HarrisMartin Publishing.
SEARCH THE ARCHIVES
A mediation conference has been scheduled in an action in which a Florida risk management pool alleges Munich Reinsurance America Inc. must contribute toward a $750,000 settlement of a lawsuit brought against a Florida city.
An arbitration hearing in a $3.85 million reinsurance dispute involving underlying workers’ compensation losses has been completed and the panel deliberations will take place the week of Jan. 14, according to the parties’ joint status report.
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.
A reinsurance participation agreement executed in connection with the purchase of workers’ compensation coverage is an insurance contract under Virginia law and therefore disputes arising from that contract cannot be arbitrated, a federal appeals court has ruled.
Swiss Re Life & Health America Inc. has refuted allegations that it owes a health insurance provider $1,802,674 in reinsurance for claims arising from a member’s hemophilia treatment and unrelated surgeries.
Wells Fargo Bank has sued a group of Lloyd’s of London Syndicates, seeking reinsurance coverage for its settlement of lawsuits arising from securities lending agreements executed by subsidiaries of its predecessor, Wachovia Corp.
Beechwood Re and its founders have moved to dismiss certain claims asserted in a lawsuit accusing them of investing $320 million of Senior Health Insurance Company of Pennsylvania’s assets with the affiliates of a failed Ponzi scheme.
Endurance Assurance Corp. has asked a New York federal judge to reopen discovery in a reinsurance dispute involving a 2008 deadly trucking accident to allow it to conduct depositions concerning a cedent’s calculation of its alleged damages.
A law firm is immune from claims that it negligently misrepresented the facts of a lawsuit to an insurer while representing its policyholder because the firm was acting within the scope of its representation of a client, a federal appeals court has ruled.
A New York federal judge has confirmed an arbitration award requiring AXA Versicherung AG to pay Continental Insurance Co. $337,034, plus interest, pursuant to a retrocessional contract that covered Continental’s ceded asbestos and pollution losses.