Reinsurance & Arbitration
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Issue #1, April 2008
A N.Y. judge has confirmed a final award that holds Global Re liable for $3M to a cedent for asbestos claims brought against Coca-Cola Co.
A Michigan judge has ruled that an arbitrator must decide whether a reinsurance dispute should be resolved in two or multiple arbitrations
Global Reinsurance Corporation of America on March 6 agreed to settle their battle over nearly $1.4M in underlying declaratory judgment expenses
A broker breached its duty by failing to place a policy that had an aggregate deductible, exposing its client to more than $198M in losses, a judge ruled
A reinsurance intermediary settled its dispute with a cedent over a letter of credit posted in connection with a "rent-a-captive" reinsurance program
A N.Y. judge dismissed the last claim brought against the Republic of Indonesia and its insurer for damages arising from a $55M reinsurance fraud scam
A New York judge stayed a $34.3M judgment against AIG after a jury found that it fraudulently induced a reinsurer to participate in a loss-riddled facility
Cedents must pay the entire $15 million premium for a five-year contract even though they stopped writing business after only a year, the 8th Circuit ruled
n insurance holding company and its subsidiaries are obligated to pay the entire $15 million premium for a five-year