Reinsurance & Arbitration
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Issue #146, May 2020
Frequent contributor Robert M. Hall discusses the 2nd Circuit U.S. Court of Appeal's recent decision in Utica Mutual Insurance Co. v. Fireman’s Fund Insurance Co., in which he was an expert witness, and related case law.
Continental Insurance Co. (CIC) has sued TIG Insurance Co. in California federal court, accusing it of breaching a facultative reinsurance contract by refusing to pay toward the settlement of environmental contamination claims filed against CIC’s policyholder.
'COVID-19 and the Exclusion for Virus and Bacteria,' by Larry P. Schiffer, Aaron Garavaglia and Ellen Farrell
Larry P. Schiffer, Aaron Garavaglia and Ellen Farrell of Squire Patton Boggs (US) LLP maintain that "the virus exclusion clearly was intended to preclude coverage for viral contamination, regardless of the scale of infection" and that "the development of the virus and bacteria exclusion acknowledges that coverage for these exposures was never provided for under most property policies."
A federal appeals court has dismissed a cedent’s appeal of an order requiring arbitration of a reinsurance dispute arising from a $7.2 million construction defects settlement, ruling that the order was not “final or appealable.”
A New York federal judge has appointed an umpire to oversee a dispute over whether Chicago Reinsurance Co.’s reinsurance billing for an underlying settlement of asbestos claims comports with a 2017 arbitration award.
A New York federal court has compelled arbitration of a reinsurance trust dispute involving Universal Life Insurance Co. (ULICO), ruling that the arbitration clause in the parties’ reinsurance agreement supersedes the forum selection clause in the trust agreement.
Alabama Municipal Insurance Corp. has sued Munich Reinsurance America Inc., demanding $1.9 million in reinsurance coverage for five underlying lawsuits filed against four Alabama towns.
A Puerto Rico federal judge has refused to reconsider his order requiring arbitration of a $56 million reinsurance case filed by the receiver of Integrand Assurance Co., noting the court has already considered and rejected the receiver’s arguments.
A New York federal judge had jurisdiction to enforce summonses issued by an arbitration panel in a fraud case involving Beechwood Re and failed hedge fund Platinum Partners, the 2nd Circuit U.S. Court of Appeals has ruled.
An underwriting management organization is urging a Massachusetts federal judge to compel arbitration of a lawsuit accusing it of wrongfully denying a reinsurance claim, arguing that the allegations are intertwined with issues that are already being arbitrated.