Reinsurance & Arbitration
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A Georgia federal judge has ordered the production of general ledger information for Golden Isles Reinsurance Co. and SGA Reinsurance Company Ltd. in a dispute in which Golden Isles is accused of liquidating its assets to avoid paying reinsurance proceeds to Canal Insurance Co.
Brazilian reinsurer IRB Brasil Resseguros S.A. says it does not oppose a policyholder’s efforts to participate in National Indemnity Co.’s motion to enforce a March 2015 reinsurance arbitration award, and that further briefing on the issue is not necessary.
A reinsurance dispute between Fireman’s Fund Insurance Co. and Utica Mutual Insurance Co. concerning an underlying $325 million settlement of asbestos claims asserted against Goulds Pumps Inc. has been scheduled for trial on Nov. 13.
A Connecticut federal judge has refused to reconsider his confirmation of a clarified arbitration award that requires General Re Life Corp. to pay up to an additional $18 million in reinsurance proceeds to Lincoln National Life Insurance Co., explaining that the court lacks the authority to issue a judgment for a sum certain.
Calif. Law Bars Arbitration of Coverage Dispute Due to Risk of Conflicting Rulings, Appellate Court Says
Arbitration of a coverage dispute between a school district and one of its insurers is barred under California law because there is pending litigation arising out of the same transaction, thereby posing a risk of conflicting rulings, a state appellate court has affirmed.
Robert M. Hall discusses selected case law concerning the discoverability of communications between a cedent and its reinsurer. He observes that the outcome of an effort to obtain such communications "can depend on the focus of the request as well as a nuanced response."
A federal appellate court has upheld a lower court’s denial of Applied Underwriters Inc.’s motion to vacate an arbitrator’s determination that a workers’ compensation reinsurance dispute is not arbitrable under Nebraska law, which the parties agree controls the action.
A defendant in an action accusing a reinsurer’s principals of mishandling reinsurance trust assets is urging a New York federal judge to send the matter to arbitration, arguing that the claims mirror those that are already the subject of a pending arbitration.
Top’s Personnel Inc. says Applied Underwriters Inc. has failed to comply with a court order requiring AUI to provide complete answers to Top’s interrogatories in a dispute involving sums allegedly owed AUI under a promissory note executed in connection with a reinsurance participation agreement.
An Illinois appellate court has upheld dismissal of a surety’s attorney malpractice complaint, explaining that because the surety’s reinsurers paid any damages the surety suffered as a result of the alleged malpractice, the reinsurers, as the real parties in interest, should have filed the action in their own names.