Jurisdiction: Bermuda

U.S. Insurers Urge Congress to Modify Provisions of Current Tax Law Related to Foreign Insurers

On September 26, 2007, William R. Berkley, Chairman and C.E.O. of W.R. Berkley Corporation, the ninth largest commercial insurer in the U.S., addressed the Senate Finance Committee concerning an alleged flaw in the current U.S. tax system that provides certain economic advantages to foreign property and casualty insurers domiciled in favorable tax jurisdictions, such as Bermuda. 

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No Right To New York Review Of Arbitration Decision Under Bermuda Form Arbitration Clause

A recent ruling from the English Commercial Court illuminates one risk with the use of the Bermuda form arbitration clause:  if the losing party is dissatisfied with the arbitration result, it may not be permitted to challenge the result under New York law in a New York court, but may instead be limited to challenging the arbitration award under English law in English court. 

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