Reinsurance & Arbitration
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Issue #140, November 2019
Court Says Arbitrator’s Refusal to Postpone Hearing and Consider Witnesses Not 'Misconduct' Requiring Vacatur
Nora Valenza-Frost of Carlton Fields discusses a recent New York federal court's ruling that an arbitrator did not commit misconduct by refusing to accept evidence from a party’s witness because the party admitted that the witness was not “key."
A Maryland federal judge has preliminarily approved a settlement reached in two class actions accusing Banner Life Insurance Co. of shifting its debt to offshore reinsurers in order to hide its “questionable” solvency.
A scheduling order has been issued in an action in which a financial services company seeks $1.1 million under a reinsurance agreement covering a U.S. Custom Bonds program, with a pre-trial conference set for Dec. 2.
The parties in an Alabama federal action seeking reinsurance coverage for four disability policies have notified the court that they mediated the dispute on Oct. 9 but failed to reach a resolution.
Rachel Schwartz of Carlton Fields discusses a recent 9th Circuit panel majority's ruling that an arbitrator's failure to disclose his ownership interest in JAMS requires vacatur of an arbitration award.
A California federal judge has sent to arbitration a cedent’s lawsuit seeking $8.6 million in reinsurance from The Hartford Steam Boiler Inspection and Insurance Co. for losses sustained by a date farm following an electrical power outage.
A Nebraska court lacks personal jurisdiction over a New York company named as a defendant in a dispute over an Applied Underwriters reinsurance participation agreement (RPA), a state appellate court has ruled.
Certain London Market Reinsurers (LMR) are not required to produce documents and interrogatory relating to their 2009 settlement of pollution claims with Olin Corp. in a reinsurance dispute with Lamorak Insurance Co., a Massachusetts federal magistrate judge has ruled.
A New York federal lawsuit accuses a reinsurer of 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 reinsurer is seeking a ruling that it is not obligated to provide defense and indemnity to a telecommunications company and its employee for a 2016 deadly vehicle accident because the company did not provide timely notice to the ceding excess insurer.