The Standard Formula Podcast | Assessing Prudential Insurance Regulation in Japan
The Standard Formula Podcast | Solvency II Back to Basics: Technical Provisions
The Standard Formula Podcast | Investment Rules for Insurers and Reinsurers
The Standard Formula Podcast | Solvency II Back to Basics: Third Country Branches and Cross-Border Provision of Services
Standard Formula Podcast | Reinsurance and Risk Transfer: Risk Mitigation Under the Solvency II Regime
The Standard Formula Podcast | Bermuda Monetary Authority Proposes Enhancements to its Regulatory Regime
NOWOTNY KNOWS SQUAT! Part 2 Using PPLI and PPVA Annuities to Raise Assets Under Management and Sell More Life Insurance
Allocation is a fundamental issue impacting every society and transcending virtually every major sector and function within a society. Economists sometimes describe this concept as society's allocation of its resources...more
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
The wildfires in Los Angeles continue to rage and have destroyed or damaged more than 12,000 structures, mostly personal residences. Southern Californians will be impacted by the devastating aftermath for years to come. There...more
Applying Washington state law, the United States District Court for the Western District of Washington has denied a reinsurer’s motion for judgment on the pleadings where, although alleged sexual assaults occurred before its...more
The English Court has, for the first time, considered the meaning of a “catastrophe”, as well as how Hours Clauses work in the context of non-damage business interruption losses claimed under two Property Catastrophe Excess...more
In the second episode of the Back to Basics series, “Standard Formula” podcast host and insurance partner Rob Chaplin is joined by colleague Imad Mohammed Nazar to discuss reinsurance and risk transfer, including how...more
Updated Social Inflation Survival Guide - Insurance professionals and counsel deal with it on a daily basis, plaintiffs' personal injury lawyers are driving and benefiting from it, consumers and policyholders are paying...more
This White Paper takes a comprehensive look at social inflation, identifying the causes, scope, and costs of social inflation. It also examines the risks and challenges insurers and their policyholders confront as a result...more
In Fireman’s Fund Insurance Co. v. OneBeacon Insurance Co., the Second Circuit Court of Appeals affirmed a district court order granting summary judgment to plaintiff Fireman’s Fund, holding that defendant OneBeacon is...more
In In re Rehabilitation of Scottish Re (U.S.), Inc., C.A. No. 2019-0175-JTL (Del. Ch. Apr.18, 2022), the Delaware Court of Chancery ruled, as a matter of first impression, that in a delinquency proceeding for an insurance...more
The Eastern District of Pennsylvania has transferred a lawsuit filed against Applied Underwriters Inc. and its subsidiaries to the District of Nebraska. The dispute involved a workers’ compensation insurance program issued by...more
The United States Court of Appeals for the Second Circuit rejected the Bellefonte Rule, which reinsurers relied upon to cap liability under certificates of facultative reinsurance for indemnity and expense. The...more
The D.C. Circuit recently affirmed a judgment in favor of reinsurers in a suit brought by an insured after concluding that the insured could not assert breach of contract and related claims against the reinsurers because the...more
In a matter previously covered in this blog, the Northern District of New York was asked to determine whether Clearwater Insurance Co. (the reinsurer) was entitled to a new trial, a judgment as a matter of law, or an...more
Plaintiffs, Certain London Market Company Reinsurers (LMRs), filed suit against Lamorak Insurance Co. seeking a declaratory judgment that they were not obligated to pay reinsurance billings ceded by Lamorak. The disputed...more
In 1990, the Second Circuit in Bellefonte Reinsurance Co. v. Aetna Casualty & Surety Co., 903 F.2d 910 (2d Cir. 1990), affirmed a District Court judgment that reinsurers were not obligated to pay additional sums for...more
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
The United States District Court for the Middle District of Alabama recently predicted that the Alabama Supreme Court would refuse to recognize bad faith claims in the context of reinsurance disputes if it was presented with...more
In a recent Alabama federal court decision, aptly captioned Alabama Municipal Insurance Corporation v. Munich Reinsurance American, Inc., the plaintiff reinsured brought three counts of bad faith against the defendant...more
In recent weeks, two insurers with significant legacies of occurrence-based general liability coverage took important steps to liquidate their estates. Bedivere Insurance Company (OneBeacon) Liquidation - The first...more
Having served as a commercial mediator for the Southern District of New York mediation program for 28 years, I have some thoughts about the use of mediation to resolve insurance and reinsurance disputes. My perspective is...more
An insured filed suit in a Florida district court for breach of contract and breach of fiduciary duty in connection with the defendant-carriers’ handling of claims made under the insured’s disability insurance policies....more
Much of American law is derivative of British law, and this is particularly true in the realm of reinsurance law. In the UK, courts distinguish between ‘follow the fortunes clauses’ and ‘follow the settlements clauses’ and...more
The United States District Court for the Southern District of New York rejected a reinsurer’s denial of a claim. The court disagreed with the reinsurer’s position than exhaustion language had not been satisfied, and found the...more
The Eastern District of California recently granted partial summary judgment to a class of plaintiffs suing a reinsurer and related entities with respect to a reinsurance arrangement regarding private mortgage insurance that...more