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Contract Terms Reinsurance Insurance Industry

Mayer Brown

NAIC Working Group Launches Project Relating to Reciprocal Management Fees

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AT A GLANCE - The NAIC Risk-Focused Surveillance (E) Working Group (RFSWG) met via teleconference on February 26, 2025 and initiated a new project relating to the management fees paid by reciprocal interinsurance exchanges...more

Mayer Brown

English Court Rules on Conflicting Jurisdiction and Arbitration Clauses

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The English Commercial Court has handed down an important decision highlighting the approach adopted by the English court when there are competing jurisdiction and arbitration clauses (“Competing Clauses”) and the effect of a...more

Downs Rachlin Martin PLLC

Captive Insurance Update | Spring Edition | 2024

On March 27, 2024 the Vermont Captive Insurance Association (VCIA) held its biannual “Roadshow” educational event designed for prospective captive insurance companies. The Roadshow, which has been hosted in over 20 cities,...more

Hinshaw & Culbertson - Insights for Insurers

The Bell Tolls For the "Bellefonte Cap"

In 2016, Best's Review published our article titled "The Bellefonte Cap Returns." As we explained, the Cap stemmed from the decision of the U.S. Court of Appeals for the Second Circuit in 1990 in Bellefonte Reinsurance Co. v....more

White and Williams LLP

Unringing the Bellefonte Rule

On March 2, 2020, the U.S. District Court for the Southern District of New York issued its long-anticipated ruling in the Global v. Century case. More than five years after applying the Bellefonte Rule to hold that a...more

White and Williams LLP

PA District Court Holds Newly Formed Arbitration Panel Should Decide Consolidation Dispute

In Pennsylvania National Mutual Casualty Insurance Company v. Everest Reinsurance Company, the U.S. District Court for the Middle District of Pennsylvania held that procedural issues relating to the interpretation of...more

Carlton Fields

Insurance Receiver’s Preemption Argument Under Mccarran-Ferguson Fails To Avoid Arbitration Of Reinsurance Dispute

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The receiver for Gramercy Insurance Company sought to avoid arbitration of a reinsurance dispute with Contractor’s Bonding, Ltd., by arguing the FAA was reverse preempted under the McCarran-Ferguson Act....more

Carlton Fields

California Court Considers Enforceability Of Arbitration Clause In Reinsurance Related Agreement Applying Nebraska Law

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In a case involving a reinsurance participation agreement (RPA), a California trial court has examined the interplay between two seemingly irreconcilable contract provisions: one that provided for the arbitration of any...more

Carlton Fields

New York Court Of Appeals Holds There Is No Presumption Of Expense-Inclusive Caps In Liability Limit Clauses In Facultative...

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The New York Court of Appeals recently answered in the negative a question certified to it by the U.S. Court of Appeals for the Second Circuit regarding prior precedent and whether per occurrence liability limits in...more

Jones Day

New York High Court Confirms No "Blanket Rule" on Reinsurance Limits

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The Situation: This past month, the New York Court of Appeals considered whether New York law imposes a "rule of construction" or "strong presumption" that a reinsurance contract's limit of liability provision caps the...more

Carlton Fields

Court Compels Discovery, Awards Sanctions In Dispute Over Whether Reinsurance Arbitration Clause Applies

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In 2011, Top’s Personnel entered into a reinsurance agreement with Applied Underwriters Captive Risk Assurance Company (“AUCRA”), and several years later executed a promissory note (“the Note”) in favor of a related entity,...more

Carlton Fields

Seventh Circuit Affirms Dismissal Of Post-Liquidation Reinsurance Claim As Time-Barred

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We previously posted on the trial court’s ruling addressing the statute of limitations in this case on June 23, 2016. By way of background, the underlying contract between the insurer and the reinsurer required the insurer to...more

Carlton Fields

Fourth Circuit Reverses Ruling That Reinsurance Agreement Is An “Insurance Contract” Under Virginia Law

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Applying the doctrine of judicial estoppel, a district court refused to compel arbitration finding that the arbitration clause in a reinsurance agreement was unenforceable under a Virginia statute that voided a mandatory...more

Carlton Fields

Court Compels Arbitration, Rejecting Claim That Contract Is Void For Lack Of Mutual Assent

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A New York court compelled the arbitration of a claim under a reinsurance agreement, rejecting the plaintiff reinsurer’s claim that the reinsurance policy is void because the reinsured issued an underlying insurance policy...more

Carlton Fields

Putative Class Action Involving A Patented Reinsurance Arrangement For Workers’ Compensation Coverage Largely Survives Dismissal

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The case is pending in a federal district court in New York, and involves three allegedly interconnected contracts purportedly “designed to circumvent [state] insurance laws,” including the laws of New York. ...more

Hogan Lovells

French Legal and Regulatory Update – December 2016

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The Paris office of Hogan Lovells is pleased to provide this English language edition of our monthly e-newsletter, which offers a legal and regulatory update covering France and Europe for December 2016. ...more

Troutman Pepper Locke

Adding Fuel to the Bellefonte Fire? Second Circuit Asks New York’s Highest Court For Guidance as to Reinsurer’s Limit of Liability

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In Global Reins. Corp. of Am. v. Century Indem. Co., 2016 WL 7156549 (Dec. 8, 2016), the U.S. Court of Appeals for the Second Circuit asked New York’s highest court, the New York Court of Appeals, to provide guidance as to...more

Carlton Fields

D.C. Court Dismisses Dispute Over Reinsurance Of Federal Crop Insurance Program

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On September 20, a federal district court in the District of Columbia dismissed a lawsuit brought by reinsurers of the federal crop insurance program. The plaintiffs-reinsurers alleged that the Federal Crop Insurance...more

Carlton Fields

Treaty Tip: Is it an Insurance Policy or a Reinsurance Agreement?

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Whether a risk shifting agreement is an insurance policy or a reinsurance agreement may have important consequences. For example, many states prohibit the mandatory arbitration of disputes arising out of insurance policies,...more

Carlton Fields

New Wave of COI Rate Increase Lawsuits Hits the Industry

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Historically, increases to cost of insurance (COI) rates on universal life (UL) policies have been met with legal challenges from policyholders, and sometimes, regulatory opposition spurred by policyholder complaints. The...more

WilmerHale

Life and Annuity Series: Cost-of-Insurance Charge Litigation

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Plaintiffs' lawyers have been challenging cost-of-insurance (COI) charges for years, with mixed results. The following outline reviews the most recent flurry of cases. ...more

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