Reinsurance & Arbitration
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"The Uncertainties of Prognostications of the Impact of Hurricanes Harvey and Irma on Catastrophe Bonds and the Reinsurance Market"
Roland C. Goss notes that only time and accompanying loss development will allow a reasoned evaluation of the impact of Harvey and Irma on the reinsurance and cat bond markets or individual reinsurance agreements or catastrophe bonds.
QBE Not Covered for Participation in Alleged Force-Placed Mortgage Insurance Scheme, N.Y. Judge Says
QBE Americas Inc. and its affiliates are not entitled to insurance coverage for lawsuits and state investigations arising from its participation in an alleged kickback scheme involving force-placed mortgage insurance, a New York judge has ruled.
Fireman’s Fund Insurance Co. has opposed Utica Mutual Insurance Co.’s efforts to bar the testimony of Garrett Redmond in a reinsurance dispute, arguing that the New York federal court has already rejected Utica’s argument that he lacks personal knowledge of the reinsurance certificates at issue.
A Pennsylvania federal judge has allowed R&Q Reinsurance Co. to assert a statute of limitations defense to breach of contract counterclaims filed by St. Paul Fire & Marine Insurance Co. in a reinsurance dispute.
A dispute arising from a series of workers’ compensation insurance and reinsurance contracts issued by Applied Underwriters Inc. and its affiliates should not be transferred to Nebraska because it would not be convenient for the policyholder, a Connecticut federal judge has ruled.
A Nebraska federal magistrate judge has ordered Applied Underwriters Inc. to pay $5,500 in sanctions for its failure to comply with a discovery order requiring it to provide information concerning a reinsurance participation agreement and a promissory note executed by the parties.
A New York federal judge has dismissed with prejudice a $9.3 million reinsurance fraud action involving the Safebuilt Reinsurance Program, noting the parties have reached a settlement.
R&Q Reinsurance Co. has moved to amend its answer to breach of contract counterclaims asserted by St. Paul Fire & Marine Insurance Co. in a reinsurance dispute, seeking to deny that it agreed to reinsure the excess umbrella policy at issue.
An Alabama federal judge has sent a $1.3 million reinsurance action to arbitration, finding the dispute falls within the scope of the arbitration clause contained in the reinsurance agreement at issue in the cedent’s amended complaint.
Utica Mutual Insurance Co. has moved to bar Fireman’s Fund Insurance Co. from presenting the testimony of its former employee to support its argument that primary policies issued by Utica to Goulds Pumps did not include aggregate limits.