Reinsurance & Arbitration
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Munich Reinsurance America Inc. has moved to dismiss bad faith claims in a $1.9 million reinsurance action filed by an Alabama non-profit public insurer, arguing that state law does not recognize a tort of bad faith for failure to pay reinsurance claims.
Issue #147, June 2020
Certain London Market Reinsurers (LMR) have asked a federal judge to compel Lamorak Insurance Co. to produce discovery regarding its allocation of reinsurance billings for its 2009 settlement of underlying pollution claims.
A Georgia appeals court has reversed a trial court’s confirmation of a $462,971 arbitration award in favor of a car dealership and its captive insurer, finding the arbitrator exceeded his powers by unlawfully departing from the terms of the parties’ written agreement.
A federal magistrate judge has recommended plaintiffs be allowed to conduct jurisdictional discovery in an action in which they seek $934 million in withdrawal liability payments from offshore reinsurer Cardem Insurance Company Ltd.
A New York federal judge has dismissed a lawsuit accusing a Japanese insurer of breaching a security trust agreement by refusing to release nearly $20 million in assets from Takata Reinsurance Inc. (TKRI)’s operating account.
A federal appeals court has refused to stay arbitration of a $56 million reinsurance case filed by the receiver of Integrand Assurance Co., finding it unlikely that the receiver would succeed on its argument that McCarran-Ferguson Act reverse-preempts the Federal Arbitration Act.
U.S. Bank National Association is urging a South Carolina federal judge to deny Accident Insurance Co.’s motion for a new trial, arguing the weight of the evidence shows that the bank did not breach its duties as the trustee of a reinsurance account or commit civil conspiracy.
A dispute in which a reinsurer accuses its cedent of improperly agreeing to settle underlying claims filed by a health care provider against two insured employee benefit plans should be arbitrated under the terms of the parties’ reinsurance contract, the cedent contends.
U.S. Supreme Court Holds Equitable Estoppel Can Allow Non-Signatories to Compel Arbitration Under the New York Convention
Guest contributor Brendan Gooley of Carlton Fields breaks down the U.S. Supreme Court's recent ruling that equitable estoppel doctrines can be invoked by non-signatories seeking to compel arbitration under the Convention on the Recognition and Enforcement of Foreign Arbitral Awards.
A Puerto Rican insurer has asked a New York federal court to conform an interim arbitration award requiring a reinsurer to deposit more than $524 million in a segregated account to be used as security for the reinsurer’s liabilities.