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: OCTOBER 2014
IN THIS ISSUE
- Insureds’ Settlement with Bank of its Loan Defaults Not Covered
- Business Enterprise Exclusion Bars Coverage for Claim Arising Out of Attorney’s Real Estate Development Company
- Tax Shelter Exclusion Bars Coverage for Suits Against Accounting Firm
- New York Court Requires Insurer that Issued Duty to Defend Policies to Advance Defense Costs During Coverage Litigation, but Insurer that Issued Duty to Advance Policies Has No Such Obligation
- Insurer’s Communications with Reinsurer Not Privileged
- Policyholder Entitled to Hire Multiple Law Firms to Handle Underlying Suit as Long as Reasonable and Necessary for the Defense
- Excess Carrier’s Unrestricted Payment to Primary Carrier Creates Doubt as to Whether Primary Policy Was Exhausted
- Broadly Worded Securities Exclusion Does Not Unambiguously Bar Coverage for ERISA Lawsuits
- Prejudice Showing Required for Late Notice Defense under Claims-Made-and-Reported Policy
- Prior Litigation Exclusion Bars Coverage Despite Differences in Parties and Damages Sought
- Amended Complaints Relate Back to Original Complaint That Sought Only Injunctive Relief
- Malpractice Suit Related Back to Claim for Compensation from Client Security Fund
- Insured’s Investment Advisory Activities Not Covered Under Insurance Agents E&O Policy
Procedural Flexibility in Reinsurance Arbitrations
By Richard L. McConnell
Spring 2010 | In-House Defense Quarterly
Renewable Energy Coverage: Insuring Geothermal Risks
By Sandra Tvarian Stevens
September 25, 2009 | Advisen Front Page News
U.S. Government Anti-Money Laundering Effort Increasingly Impacts Insurers
By Thomas W. Brunner and Cari Stinebower
Winter 2009 | ABA Tort Trial & Insurance Practice Committee News