Reinsurance & Arbitration
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Issue #135, June 2019
A Puerto Rican insurer says its dispute with a group of reinsurers over coverage for two hurricanes is not arbitrable because the arbitration clause in the reinsurance contracts at issue is null and void.
Robert M. Hall discusses selected case law to determine what level or type of “reasoning” in awards is necessary to avoid an award being vacated or remanded for clarification.
Issue #134, May 2019
The Republic of Nicaragua and a Nicaraguan insurer have moved to dismiss a lawsuit in which the owner of a plastics factory is seeking coverage for a 2003 fire, ruling that the action does not belong in the United States.
Century Indemnity Co. has asked a Massachusetts federal judge to order arbitration of its reinsurance dispute with Certain Underwriters at Lloyd’s, London, arguing that awards issued in a prior arbitration do not preclude its arbitration demand.
The liquidator of Legion Indemnity Co. has moved to vacate or modify an arbitration award, arguing that the panel exceeded its powers and manifestly disregarded the law by awarding $422,680 in attorneys’ fees to a reinsurer.
A New York federal judge has confirmed a $166,624 arbitration award, ruling that a party waived his right to challenge an arbitrator’s failure to disclose a possible financial interest by failing to timely lodge an objection.
Pennsylvania National Mutual Casualty Insurance Co. is asking a federal judge to allow arbitration to proceed in a reinsurance dispute, arguing that it will be irreparably harmed if the reinsurer’s motion for a stay pending appeal is granted.
Two insurers are urging a New Hampshire federal judge to deny a motion to dismiss their $20 million reinsurance action against several insurers, arguing that federal jurisdiction exists, and abstention is not warranted under the Colorado River doctrine.
A Nebraska federal magistrate judge has allowed the defendants in a case involving a reinsurance participation agreement to amend their counterclaim and cross-claim to allege claims under California law, ruling that Applied Underwriters Captive Risk Assurance Co. will not be prejudiced by such an amendment.
The parties in a $3.85 million reinsurance dispute involving workers’ compensation losses have informed a New York federal judge that they have complied with an interim final arbitration award and are in settlement talks to resolve the remaining issues.