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In a recent decision of the United States District Court for the Southern District of New York, TIG Ins. Co. v. Global Int’l Reins. Co., Ltd., No. 09 Civ. 1289 (Aug. 7, 2009), the court ruled that an arbitrator’s decision to ignore certain evidence is not a proper ground for vacating an arbitration award. …
Read More Southern District of New York Confirms Arbitration Award Dismissing Fraud Claims on Summary Judgment

Join the Re Under 40s at their next event, Managing Capital in Today’s Insurance/R4einsurance Marketplace, sponsored and hosted by Towers Perrin, on December 1 in midtown New York. 

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Read More Re Under 40s Next Event – Managing Capital in Today’s Insurance/Reinsurance Marketplace

In Everest National Insurance Company, et al. v. Robert Sutton, 07-Civ.-722 (JAP) (D.N.J. Oct. 14, 2009), the court dismissed five of Defendants’ counterclaims and three affirmative defenses on Plaintiff’s motion to dismiss. 

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Read More United States District Court Grants Insurer’s Motion To Dismiss In Case Involving Guaranties Of Reinsurance For Default Protection Insurance

In a departure from recent rulings by other federal circuit courts on this issue, the U.S. Court of Appeals for the Fifth Circuit has held that manifest disregard of the law is no longer a valid basis for vacating arbitration awards under the Federal Arbitration Act (“FAA”). …
Read More Fifth Circuit Finds That Manifest Disregard of the Law Has Been Abrogated By Hall Street

On October 5, 2009, the U.S. Supreme Court denied writs of certiorari in three cases that examined whether manifest disregard of the law remains a valid basis for challenging arbitration awards in light of the Court’s decision last year in Hall Street Associates, L.L.C. v. Mattel, Inc., 128 S.Ct. 1396 (2008). …
Read More U.S. Supreme Court Denies Certiorari for Three Cases Concerning Manifest Disregard of the Law

In Gard Marine & Energy Ltd ( A company incorporated under the laws of Bermuda) v (1) Lloyd Tunnicliffe (2) Glacier Reinsurance AG (A company incorporated under the laws of Switzerland) (3) Agnew Higgins Pickering & Co Ltd [2009] EWHC 2388 (Comm), the English Commercial Court was asked to consider whether the dispute between Gard and Glacier Re should be heard by the English courts. …
Read More UK: English Court Rules That it Has Jurisdiction to Hear Reinsurance Claim Between a Bermudian Insurer and a Swiss Reinsurer

Judgment in the case of Equitas v R&Q Reinsurance (Brandywine) is expected to be handed down later this month.  In this case, Equitas is attempting to establish R&Q’s liability for a sample of more than 4,000 LMX spiral claims arising out of Kuwait Airways losses during the first Gulf war and the Exxon Valdez oil spill. …
Read More UK: LMX Spiral Claims – Key Judgment Imminent

The Association of Insurance and Reinsurance Run-Off Companies (“AIRROC”) has announced the formal launch of the Dispute Resolution Procedure (“DRP”), an expedited binding arbitration procedure especially designed for small and less-complicated claims. …
Read More AIRROC Launches Expedited Binding Arbitration Procedure for Small Claims

Plaintiff Callon Petroleum Company (“Callon”) commenced an action against National Indemnity Company (“NICO”) to recover for a judgment Callon obtained against NICO’s cedent, Frontier Insurance Company (“Frontier”). 

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Read More Court Finds That New York Law Governs Reinsurance Agreement, Denies Insured’s Statutory Claim for Punitive Damages and Penalties Against Reinsurer