Plaintiff moved to compel production of defendant American Red Cross’ reinsurance agreements. Defendant objected on the grounds that it was self-insured up to $1 million, and, in its counsel’s opinion, any judgment in the action would not exceed that amount.
Read More Federal Court Orders Party to Produce Copies of its Reinsurance Agreements Under Fed. R. Civ. P. 26
Reinsurance
Update from RAA Re Contracts Conference – Presentation on Dispute Resolution Clauses
By Troutman Pepper Locke on
Vince Vitkowsky of Edwards Angell Palmer & Dodge LLP presented on Thursday concerning Dispute Resolution Clauses in reinsurance contracts, which specifically focused on arbitration clauses. …
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Update from RAA Re Contracts Conference – Presentation on Extra Contractual Obligations and Losses in Excess of Policy Limits
By Troutman Pepper Locke on
We have been tracking developments at the RAA Re Contracts Conference, which took place this week in New York, as previously reported on www.insurereinsure.com. …
Read More Update from RAA Re Contracts Conference – Presentation on Extra Contractual Obligations and Losses in Excess of Policy Limits
United States Supreme Court Asks for Federal Government’s Opinion on Applicability of the McCarran-Ferguson Act to the New York Convention
By Troutman Pepper Locke on
The U.S. Supreme Court recently asked the Solicitor General to file a brief on behalf of the United States expressing its views on whether the Convention on the Recognition and Enforcement of Foreign Arbitral Awards (the “New York Convention”) and the federal legislation that enforces it, the Federal Arbitration Act (“FAA”), are subject to the reverse preemption provision of the McCarran-Ferguson Act. …
Read More United States Supreme Court Asks for Federal Government’s Opinion on Applicability of the McCarran-Ferguson Act to the New York Convention
New York State Court Finds that Follow the Settlements Doctrine Does Not Apply
By Troutman Pepper Locke on
In American Home Assurance Co. v. American Re-Insurance Co., No. 602485/06 (N.Y. Sup. Ct. May 27, 2010), the plaintiffs, several ceding companies, brought a declaratory judgment action against certain reinsurers (collectively, the “Reinsurers”) seeking reimbursement for portions of a settlement plaintiffs made with their insured, Monsanto Corporation. …
Read More New York State Court Finds that Follow the Settlements Doctrine Does Not Apply
RAA/Contracts Conference in New York
By Troutman Pepper Locke on
Edwards Angell Palmer & Dodge is a sponsor of the Reinsurance Association of America’s reinsurance education programs. Vincent J. Vitkowsky, Partner in New York, will be presenting at the seminar “Dispute Resolution Clauses in Contracts” presented at the Reinsurance Association of America’s ReContracts program on July 22, 2010 in New York City. If you are planning to attend the conference, please come by our booth and meet our attorneys and to network with your peers in the industry. …
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Lloyd’s Will Not Insure or Reinsure Petroleum Shipments to Iran
By Troutman Pepper Locke on
According to a recent Reuters article, Lloyd’s of London, the world’s largest insurance market, has said it will comply with sanctions signed into law by President Obama on July 1. …
Read More Lloyd’s Will Not Insure or Reinsure Petroleum Shipments to Iran
Ninth Circuit Affirms Ruling That Reinsurer Has No Duty to Contribute to Settlement Payment Where Reinsured Excess Policy Was Not Triggered
By Troutman Pepper Locke on
Texas Farmers Insurance Company (“Texas Farmers”) issued claims-made insurance policies (transformed into occurrence-based policies through endorsement) to Kaiser Permanente, a medical facility, for the policy periods of 4/9/99-4/9/00, 4/9/00-4/9/01, and 4/9/01-4/9/02. The first two policies had a $5 million limit of liability per claim. …
Read More Ninth Circuit Affirms Ruling That Reinsurer Has No Duty to Contribute to Settlement Payment Where Reinsured Excess Policy Was Not Triggered
Second Circuit Affirms District Court’s Decision to Reappoint Arbitrator Who Had Resigned
By Troutman Pepper Locke on
Yesterday, the Second Circuit affirmed a district court’s decision in which the court held that an arbitrator who had previously resigned was able to rejoin the arbitration panel. …
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Federal Court Finds that Limit of Liability Cap in Facultative Certificate Includes a Cedent’s Defense Expenses
By Troutman Pepper Locke on
Pacific Employers Insurance Company (“PEIC”) entered into a facultative reinsurance certificate with Global Reinsurance Corporation of America, f/k/a Constitution Reinsurance Corporation (“Global”), which reinsured an umbrella commercial liability insurance policy issued by PEIC to Buffalo Forge Company. …
Read More Federal Court Finds that Limit of Liability Cap in Facultative Certificate Includes a Cedent’s Defense Expenses