Reinsurance & Arbitration
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Issue #135, June 2019
A health insurer has settled its lawsuit against Swiss Re Life & Health, in which it sought $1.8 million in reinsurance for claims arising from a member’s hemophilia treatment and unrelated surgeries, according to a recent court filing.
A New York federal judge has consolidated two actions in which the owners of life insurance policies accuse PHL Variable Life Insurance Co. (Phoenix) of imposing an excessive cost of insurance (COI) increase in 2017, noting that allegations in both cases are the same.
An insurer has opposed The Hartford Steam Boiler Inspection and Insurance Co.’s motion to compel arbitration of a lawsuit seeking $8.6 million in reinsurance proceeds for losses sustained by an organic date farm following an electrical power outage.
This is the latest in a series of articles by Roland C. Goss concerning the adoption and implementation of the Covered Agreements entered into by the United States with the European Union and the United Kingdom concerning the regulation of aspects of the business of reinsurance.
The liquidator of The Home Insurance Co. has resolved his breach of contract claim against Cerberus Holding Company LLC in a dispute over $225,885 in reinsurance proceeds.
A North Carolina court has revived a dispute over whether a state reinsurance facility is required to reimburse Allstate for an $11 million settlement of bad faith claims arising from a motor vehicle accident, ruling that the trial court misinterpreted the rules governing the facility’s review process.
Brendan Gooley of Carlton Fields discusses the English Court of Appeal's recent decision in Equitas Ins. Ltd. v. Municipal Mut. Ins. Ltd., in which it held that reinsurance claims based upon exposure in multiple policy years for which the insurer has not allocated its loss among the various policy years at issue must be presented to the reinsurer on a pro rata basis for purposes of calculating the reinsurance payment.
An Alabama federal magistrate judge has denied a reinsurer’s motion to uphold a confidentiality designation in a disability reinsurance case, finding it failed to show good cause why the need for confidentiality outweighed the public interest in open judicial proceedings.
The parties in a reinsurance dispute over coverage for underlying workers’ compensation losses have agreed to dismissal of the action following their compliance with an arbitration award and their resolution of the remaining issues.
Certain Underwriters at Lloyd’s London seek dismissal of Century Indemnity Co.’s petition to compel arbitration of a reinsurance dispute, arguing there is already a pending federal court action that involves the same parties, billings and reinsurance contracts at issue in the petition.