Reinsurance & Arbitration
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Issue #138, September 2019
A group of London reinsurers have sued two insurers for breach of contract and bad faith, accusing them of improperly allocating underlying asbestos and silica exposure claims in order to increase their reinsurance recovery.
An administrator of vehicle service contracts has appealed a Georgia court’s confirmation of a $462,971 arbitration award in favor of a dealership and its captive insurer, arguing that the arbitrator “exceeded his powers by administering his own brand of justice.”
Brendan Gooley of Carlton Fields discusses the U.S. District Court for the Southern District of New York's recent refusal to decide arbitrability questions after determining that the arbitration agreement at issue incorporated the rules of the American Arbitration Association.
Lamorak Insurance Co. has moved to compel certain London Market Reinsurers (LMR) to produce documents and interrogatory relating to its 2009 settlement of pollution claims with Olin Corp., arguing that how the reinsurers allocated their settlement payments is relevant to the instant action.
A California federal judge has ordered a former co-owner of Cal-Regent Insurance Services Corp. to pay Odyssey Reinsurance Co. nearly $3.3 million, consisting mainly of sums reaped from the sale of the insurance agency.
A New York federal judge has determined the amount of litigation expenses Beechwood Re and its affiliates are entitled to under investment management agreements for third-party actions arising from a fraud lawsuit filed by Senior Health Insurance Company of Pennsylvania.
Guest editor Benjamin Stearns of Carlton Fields examines the 1st Circuit's recent denial of an appeal from a district court's refusal to vacate an arbitration award.
Plaintiffs in a lawsuit accusing a captive reinsurer of siphoning assets from an employee benefit plan are urging a New York federal judge to strike the reinsurer’s motion to dismiss, arguing that as an unauthorized insurer, the reinsurer was required to post security.
A federal judge has awarded Applied Underwriters Captive Risk Assurance Company Inc. (AUCRA) and its affiliates summary judgment in a lawsuit targeting their EquityComp workers’ compensation program and reinsurance participation agreement, ruling that the plaintiff lacked standing to sue under the state’s unfair competition law.
A New York federal judge dismissed a lawsuit filed against Senior Health Insurance Company of Pennsylvania by a co-founder of the Platinum Partners hedge fund, ruling that his fraud conviction bars him from seeking indemnification and advancement of litigation expenses under investment management agreements (IMAs).