Reinsurance Redux - October 2012


In This Issue:

District Court Compels Arbitration of Claims Against Reinsurer

- The United States District Court for the District of Arizona issued an order compelling arbitration of a dispute over the validity of a commutation agreement and holding that the dispute arose under a quota share reinsurance agreement containing an arbitration provision and that the reinsurer had not agreed to litigate or otherwise waived its right to arbitrate. Repwest Insurance Co. v. Praetorian Insurance Co., – F. Supp. 2d – , No. CV 12-0369-PHX-JAT, 2012 WL 3704692 (D. Ariz. Aug. 28, 2012)....... PAGE 2

Second Circuit Finds Error by District Court But Affirms Decision to Confirm Arbitration Award Where Parties Agreed to Submit Arbitrability Questions to Arbitrator

- The United States Court of Appeals for the Second Circuit held that the United States District Court for the Southern District of New York improperly refused to determine whether a dispute was arbitrable but nonetheless affirmed the district court’s decision to confirm an arbitration award because the parties had clearly and unmistakably agreed to submit questions of arbitrability to the arbitrator. Schneider v. Kingdom of Thailand, 688 F.3d 68 (2d Cir. 2012)...... PAGE 3

District of New Jersey Grants Summary Judgment on Late Notice Defense and Calculation of Retention Under Retrocessional Agreements

- The United States District Court for the District of New Jersey granted a reinsurer’s motion for summary judgment with respect to the untimely notice defense raised by its retrocessionaire and with respect to the calculation of its retention under retrocessional agreements, but held that there were genuine issues of disputed fact with respect to the retrocessionaire’s rescission counterclaim and whether certain claims were covered under the agreements. Munich Reinsurance America, Inc. v. American National Insurance Co., – F. Supp. 2d – , Civ. A. No. 09-6435(FLW), 2012 WL 4475589 (D.N.J. Sept. 28, 2012)..... PAGE 4

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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