Reinsurance & Arbitration
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Issue #137, August 2019
Century Indemnity Co. is urging a Massachusetts federal court to send its reinsurance dispute with Certain Underwriters at Lloyd’s London to arbitration, arguing that under federal law, the question of arbitrability is for arbitrators, not the court, to decide.
The plaintiffs in a lawsuit accusing a captive reinsurer of siphoning assets from an employee benefit plan have asked a New York federal judge to strike the reinsurer’s motion to dismiss, arguing that it failed to post the security required under state and federal law.
A New York federal judge has refused to certify a class of hundreds of businesses who purchased workers’ compensation coverage from Applied Underwriters Inc. and its affiliates, ruling that a class action is not the superior form of adjudication of the dispute.
A New York federal judge has refused to award partial summary judgment to Clearwater Insurance Co. in a reinsurance dispute, ruling that questions of fact exist as to whether it is obligated to reimburse Utica Mutual Insurance Co. for asbestos-related defense costs.
Applied Underwriters Captive Risk Assurance Company Inc. is appealing the confirmation of an award requiring it to pay an employer $79,167, plus $3 million in arbitrator fees in a dispute over sums owed under two reinsurance participation agreements.
A reinsurer has asked an Illinois federal judge to levy sanctions against the liquidator of Legion Indemnity Co., arguing that her motion to vacate an arbitration award of $422,680 in attorneys’ fees to the reinsurer has no reasonable chance of success.
"Is an 'Appraisal' an 'Arbitration' and If So, What Issues Can be Addressed and What Level of Due Process Applies?"
Robert M. Hall discusses appraisals in the reinsurance context and the questions that arise as to what law applies to such appraisals, whether or not the appraisers consider related legal and coverage issues, and what level of due process is required.
Issue #136, July 2019
The parties to a dispute involving Applied Underwriters Inc.’s workers’ compensation program and related reinsurance participation agreement have told a California federal judge that they agreed in principle to settle the matter.
The Hartford Steam Boiler Inspection and Insurance Co. argues that a lawsuit seeking $8.6 million in reinsurance for losses sustained by a date farm following an electrical power outage must be arbitrated under the terms of the reinsurance agreement.
The owners of Integrand Assurance Co. have sued Puerto Rican insurance regulators, accusing them of conspiring to harm the insurer’s reputation and hamper its ability to regain financial stability in the wake of hurricane-related losses.