Reinsurance & Arbitration
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Issue #136, July 2019
A California federal judge has awarded Odyssey Reinsurance Co. summary judgment on its claims against the former owners of Cal-Regent Insurance Services Corp., ordering them to pay the reinsurer nearly $4 million in profits they reaped from the sale of the insurance agency.
The parties in an action accusing Banner Life Insurance Co. of shifting its debt to offshore reinsurers in order to hide its “questionable” solvency have told a Maryland judge that they reached a settlement agreement in principal.
Roland C. Goss discusses whether §1782(a) can be used to obtain evidence in the United States for use in foreign or international private arbitrations, i.e., an arbitration resulting from a private contractual agreement to resolve certain disputes by arbitration.
Issue #135, June 2019
Century Indemnity Co. has asked to renew its motions for partial summary judgment on allocation and collateral estoppel in a New York federal lawsuit accusing it of breaching two reinsurance certificates issued to Utica Mutual Insurance Co.
A California federal judge has ruled that an arbitrator properly ordered Applied Underwriters Captive Risk Assurance Company Inc. to pay an employer $79,167, plus five percent interest in a dispute over sums owed under two reinsurance participation agreements.
A Boston man seeking long-term disability benefits has accused two insurers of violating the Employee Retirement Income Security Act by failing to disclose their reinsurance relationship with one another to plan participants.
2nd Cir. Adopts Standard for Determining Subject-Matter Jurisdiction Over Motions to Confirm Arbitration Awards Under FAA Section 9
Guest contributor Alex B. Silverman of Carlton Fields discusses the 2nd Circuit's recent holding that a district court properly looked to the substance of an underlying dispute in determining whether it had subject-matter jurisdiction over a motion to confirm an arbitration award pursuant to Section 9 of the Federal Arbitration Act.
Odyssey Reinsurance Co. has asked a California federal judge to order disbursement of $958,017.66 in registry funds in a dispute in which the reinsurer seeks payment of a $3.2 million judgment from the former owners of Cal-Regent Services Corp.
A New York federal judge has dismissed a dispute in which National Union Fire Insurance Company of Pittsburgh sought reimbursement from two reinsurers for its settlement of asbestos claims filed against PPG Industries Inc.
A health insurer has settled its lawsuit against Swiss Re Life & Health, in which it sought $1.8 million in reinsurance for claims arising from a member’s hemophilia treatment and unrelated surgeries, according to a recent court filing.