Reinsurance & Arbitration
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Issue #146, May 2020
Regular contributor Robert M. Hall discusses selected case law addressing the question of whether arbitration panels are authorized to award costs and attorney's fees.
Munich Reinsurance America Inc. has asked a Florida federal judge to take notice of a ruling which allegedly supports its position that it is not obligated to pay $1 million in reinsurance proceeds to a risk management pool for settlement of an underlying lawsuit against the City of St. Pete Beach.
Century Says Res Judicata Issues Arbitrable Under Federal Law, Urges Judge to Deny Reconsideration Bid
Century Indemnity Co. is urging a Massachusetts federal judge to let stand her ruling that an arbitration panel should decide whether a prior arbitration award issued in a dispute over reinsurance billings applies to a second set of billings that did not follow the same allocation method as the first set of billings.
A federal appeals court has overturned a $64 million judgment to Utica Mutual Insurance Co., ruling that Fireman’s Fund Insurance Co. (FFIC) did not breach its obligations under reinsurance contracts covering certain umbrella policies issued to Goulds Pumps Inc.
An insurer must produce reserves information in an insurance coverage dispute but is not required to turn over reinsurance information because such information is not relevant to the facts of the case, an Idaho federal judge has ruled.
Issue #145, April 2020
Century Indemnity Co. has accused RLI Insurance Co. of breaching two facultative reinsurance certificates by refusing to indemnify Century for sums it paid to settle asbestos claims filed against its insured, Gould Inc.
A Puerto Rican insurer has asked a New York federal court to compel arbitration of its dispute with a Bermuda-based reinsurer, arguing that the parties’ reinsurance agreement requires arbitration of “all disputes” relating to the agreement.
Following a bench trial, a South Carolina federal judge has ruled that U.S. Bank National Association did not breach its duties as the trustee of a reinsurance account or breach its trust agreement with Accident Insurance Co. (AIC).
R&Q Reinsurance Co. has been hit with a lawsuit in Massachusetts federal court, accusing it of breaching a reinsurance contract by failing to indemnify its cedent for sums paid to settle asbestos claims filed against National Service Industries Inc. (NSI).
A New York federal judge has dismissed a receiver’s aiding and abetting claims against an investment holding company in a fraud case involving an offshore reinsurance company, a Pennsylvania insurer and the Platinum Partners hedge fund.