Wiley Rein regularly represents both reinsurers and ceding companies in addressing the complex issues that arise under treaty, excess treaty, and facultative reinsurance arrangements. Our attorneys have handled reinsurance arbitrations and litigation in connection with significant claim disputes, including those arising from asbestos, environmental, mass tort, pharmaceutical, and product liability losses; have served as arbitrators in reinsurance disputes; and represent parties in litigation regarding arbitrability and the scope and structure of arbitrations under the Federal Arbitration Act.
Our representation of reinsurers and ceding companies also includes facilitating resolutions of contested claims without the necessity of arbitration or litigation through settlements, commutations, and other agreements. We have assisted our clients with respect to myriad underwriting issues, have examined the adequacy of reinsurance in mergers and acquisitions, and frequently provide our clients with advice concerning the evaluation and resolution of reinsurance and retrocession claims.
Through this work, we have experience with a wide range of recurring reinsurance issues, including:
- The application and limits of the "follow-the-fortunes" and "follow-the-settlements" doctrines.
- Allocation of loss and expense with respect to multiple occurrences, multiple policies, and multiple policy periods.
- Access to records and claim audits.
- Issues relating to substantiation of claims.
- The application of aggregation and accumulation provisions found in some reinsurance agreements.
- The existence and scope of coverage for declaratory judgment expenses.
- Reinsurance treatment of extra-contractual obligations.
- "Payback" claims.
- Claims and defenses based upon misrepresentation and non-disclosure, including rescission and reformation.
Wiley Rein and several of the partners active in the Reinsurance Practice are members of the AIDA Reinsurance and Insurance Arbitration Society (ARIAS-US). Our attorneys frequently write and speak on reinsurance topics in a variety of legal and industry publications and at meetings of professional and industry organizations.
ISSUE: JULY 2014
IN THIS ISSUE
- Settlements Returning Overdraft Fees Are Not “Damages”
- A-Side DIC D&O Policy Is Excess to Primary D&O Policy
- New York Court of Appeals Declines to Impose “As Soon As Reasonably Possible” Requirement on All Insurer Disclaimers
- Insured v. Insured Exclusion Bars Coverage for Entire Consolidated Action with Multiple Non-Insured Claimants
- Offer to Settle Within Policy Limits Not a Requirement for Bad Faith Failure to Settle Claim
- Privileges Protecting Communications Regarding Underlying Suit Not Waived by Placing Causation “At Issue”
- Primary Insurer’s Bad Faith Refusal to Settle Within Primary Limits Not Actionable Where Excess Insurer Could Not Prove It Would Have Accepted the Offer
- Notice Six Months Late Was Not “As Soon As Practicable”; No Prejudice Showing Required Under Claims-Made Policy
- No Coverage for Claim When Insured Had Knowledge of Incident Before Prior Acts Date
- A Civil Contempt Proceeding Is Part of the Same “Claim” as the Underlying Civil Action from Which It Arises
- Other Insurers Impacted by Determination of Relationship of Claims are Necessary Parties in a Declaratory Judgment Action
- Dishonesty Exclusion Does Not Preclude Insurer’s Duty to Defend Where Underlying Complaint Does Not Allege Knowing or Willful Conduct
- Allegations Related to the Improper Characterization of an Employee for Purposes of Employee Benefits Program Constitutes an “Employee Benefits Injury”
- Repayment of Improperly Received Funds May Constitute Covered Loss; Coverage is Not Precluded on Public Policy Grounds
- Co-Insurers Share Indemnity Obligations Where Policies Cover Same Loss
- Absence of Parallel State Court Proceedings Does Not Require Federal Court to Exercise Jurisdiction Under Declaratory Judgment Act
- Federal Court Abstains from Declaratory Judgment Action in Favor of Underlying State Court Proceeding
Procedural Flexibility in Reinsurance Arbitrations
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By Thomas W. Brunner and Cari Stinebower
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RECENT NEWSWiley Rein Named Washington, DC Litigation Department of the Year for Insurance by The National Law Journal
June 30, 2014