Reinsurance & Arbitration
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Certain London Market Reinsurers (LMR) are not required to produce documents and interrogatory relating to its 2009 settlement of pollution claims with Olin Corp. in a reinsurance dispute with Lamorak Insurance Co., a Massachusetts federal magistrate judge has ruled.
A New York federal lawsuit accuses a reinsurer of improperly imposing cost-of-insurance rate increases for thousands of universal life insurance policies, causing policyholders to either pay the exorbitant rates or lapse on the policies.
A reinsurer is seeking a ruling that it is not obligated to provide defense and indemnity to a telecommunications company and its employee for a 2016 deadly vehicle accident because the company did not provide timely notice to the ceding excess insurer.
Utica Mutual Insurance Co. says Century Indemnity Co. is not entitled to judgment as a matter of law or a new trial, arguing that the evidence supported the jury’s $6.2 million reinsurance verdict in Utica’s favor.
An insurer is appealing a ruling that an arbitration panel which issued a 2017 final award in a reinsurance billing dispute has jurisdiction to hear a new dispute over a subsequent billing because it arose from the “protocols” established by the final award.
A Puerto Rico federal judge has refused to stay a case filed by the owners of Integrand Assurance Co. against Puerto Rican insurance regulators, pending the defendants’ appeal of the judge’s denial of their motion to dismiss the action.
A Nebraska appeals court has upheld dismissal of an action filed by Applied Underwriters Inc. against a California policyholder, ruling that because the reinsurance participation agreement at issue is inextricably intertwined with the underlying insurance contract, California’s workers’ compensation laws will likely govern the agreement.
Century Indemnity Co. is seeking judgment as a matter of law in the wake of a $6.2 million reinsurance verdict issued in Utica Mutual Insurance Co.’s favor, arguing that the evidence shows Utica improperly billed Century for an underlying settlement of asbestos claims filed against Goulds Pumps Inc.
'Does a Contractual Liability Exclusion in Professional Liability Policies Render Coverage Illusory?'
If applied literally, contractual liability exclusions could significantly reduce coverage of claims with a contract in the fact pattern i.e. a professional liability policy covering an insurer’s claim handling under its policies and an allegation of failure to properly settle a claim. The courts have taken several approaches to this issue and Robert M. Hall discusses selected case law on point.
Issue #139, October 2019
An arbitration panel that issued a final award in 2017 that resolved a reinsurance billing dispute has jurisdiction to hear a dispute over a subsequent reinsurance billing because it arose from the “protocols” established by the final award, a New York federal judge has ruled.