Reinsurance & Arbitration
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Rachel J. Schwartz of Carlton Fields discusses the U.S. District Court for the Southern District of New York's recent arbitration-related decision in Napoleone v. S2K Financial, LLC.
The parties in a dispute over $8.6 million in reinsurance for losses sustained by a date farm following an electrical power outage have selected their party arbitrators and are in the process of selecting an umpire, according to a recent filing in California federal court.
A reinsurer has denied allegations that it 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 federal appellate panel has upheld confirmation of a FINRA arbitration award, finding the district court properly considered the parties’ arguments, including a challenge of an arbitrator’s qualifications.
AmTrust Insurance Co. has moved for summary judgment on counterclaims asserted by a captive reinsurer, arguing that they fail because the reinsurer failed to post the security required under the terms of the parties’ reinsurance agreement.
Workers’ compensation insurance provider Applied Underwriters Inc. may not appeal a court’s statement of decision (SOD) in a dispute involving its reinsurance participation agreement, because the ruling was not “final” under state law, a California appellate court has ruled.
A federal appeals court has dismissed the Illinois Mine Subsidence Insurance Fund’s appeal of an award of summary judgment to a railroad company in a reinsurance dispute involving payments for mine subsidence damages.
A California judge has awarded Odyssey Re $218,246 in attorneys’ fees and expenses related to former Cal-Regent Insurance Service Corp. owner Diane Dostalik’s violation of an October 2017 preliminary injunction.
Amerisure Mutual Insurance Co. is urging an Illinois federal court to confirm a final arbitration award in its reinsurance dispute with Allstate Insurance Co., arguing that it expressly supersedes a previous interim final award issued by the arbitration panel and is “final” in every respect.
Everest Reinsurance Co. and its cedent have agreed to lift a stay in a reinsurance dispute, allowing the selection of new arbitration panel which will decide whether the arbitration should be consolidated with an earlier arbitration involving two other reinsurers.