News & Analysis as of

Reinsurance

Court Declines To Determine Whether Reinsurance Syndicate For Which A Company Fronted Should Be Involved In An Arbitration

by Carlton Fields on

The parties in this case presented to a court the issue of whether a reinsurance syndicate for which Federal Insurance acted as “a front” was a real party in interest and should be involved in an arbitration between Federal...more

[Event] The LatAm Gateway Summit - October 11th, Miami, Fl

by Zelle LLP on

The LatAm Gateway Summit will focus on Latin American insurance and reinsurance issues. The economic climate, claims, underwriting, and opportunities unique to Latin America will be explored. Insurers, reinsurers, risk...more

Alphabet Soup — Changes to the Affordable Care Act

by LeClairRyan on

With the new Trump administration and Republican control of Congress, there has been a lot of discussion about eliminating the Affordable Care Act and replacing it with a different set of rules. Legislation has passed the...more

Georgia Revamps Law Governing Captive Insurance Companies

by Carlton Fields on

Significant changes to Georgia law governing captive insurance companies took effect on July 1, 2017. The changes relate to the permitted corporate structure of captive insurance companies, new restrictions on risks that may...more

Court Finds That Reinsurance Transaction Did Not Breach Investment Contract Underlying An ERISA Plan

by Carlton Fields on

MetLife acquired the rights to a fixed investment option contract with Midco, a trust established to administer a retirement plan for the employees of Midco International, Inc. Midco plan participants received interest each...more

Turning Over Another Rock: Another Example of Discovery Disputes in the Reinsurance Context

by Locke Lord LLP on

Following up on our recent article, Between a Rock and a Hard Place: Insurers face hidden risks when defending claims and protecting confidential reinsurance information at the same time, published in the August 2017 issue of...more

Illinois Court Holds That Reinsurers And Insurer Need To File Complaint In Legal Malpractice Lawsuit In Their Own Names Pursuant...

by Carlton Fields on

In this case, an Illinois appellate court held that Section 2-403 of the Illinois Code of Civil Procedure, 735 ILCS 5/2-403, required the reinsurers and insurer of Developers Surety and Indemnity Co. (“DSI”) a surety, to file...more

Update on the Status of the Covered Agreement

by Carlton Fields on

Both the E.U. and the Trump Administration have now indicated that they will sign the Covered Agreement negotiated by the Obama Administration. How and when will the various provisions of this Agreement be implemented? In a...more

UK: Corporate Insurance Newseltter – June 2017

by Hogan Lovells on

The Hogan Lovells’ Corporate Insurance Newsletter for June has been published. This provides a round-up of UK, EU and international regulatory developments relevant to UK based insurance market participants. In this issue,...more

Eighth Circuit Affirms Dismissal of RICO Claim in So-Called Shadow Insurance Suit

by Carlton Fields on

In Ludwick v. Harbinger Group, the U.S. Court of Appeals for the Eighth Circuit affirmed the dismissal under the McCarran-Ferguson Act of a federal RICO claim against Fidelity & Guaranty (and its owner and several affiliates)...more

ARIAS Certified Arbitrators: One Size Does Not Fit All

by Locke Lord LLP on

The Board of Directors for the AIDA Reinsurance and Insurance Arbitration Society (“ARIAS”) has been considering increasing ARIAS’ reach by expanding membership to brokers and policyholders. This is only in the exploratory...more

Bienvenidos a Colombia: A Friendly Market for Foreign Reinsurers

by Zelle LLP on

By comparison to other jurisdictions, international reinsurers have easy access to the Colombian market. While the access to underwriting risks is not as limiting, it is not boundless. Colombia has delineated requirements...more

Mf Global Holdings Reinsurer’s $15 Million Bond Struck By Bankruptcy Court And Leave To Appeal Rejected By New York Federal Court

by Carlton Fields on

Two courts in New York recently issued decisions concerning Allied World’s ongoing coverage dispute with MF Global Holdings Ltd. over the former’s bankruptcy. As previously reported on this blog, the Bankruptcy Court for the...more

United States To Sign Covered Agreement With European Union

by Carlton Fields on

The U.S. Department of the Treasury and the U.S. Trade Representative have ended the speculation about the fate of the Covered Agreement negotiated by the Obama Administration with the European Union by announcing their...more

Who Will Be Handling Your Claims Under Berkshire Hathaway’s Latest Retroactive Reinsurance Deals?

by K&L Gates LLP on

In recent years, we have commented on the various retroactive reinsurance transactions that Berkshire Hathaway and its subsidiary, National Indemnity Company (“NICO”), have entered into with ceding insurers regarding coverage...more

1332 Edition: Alaska Reinsurance Proposal Approved by Federal Government

On July 11, the federal government announced approval of Alaska’s waiver request under Section 1332 of the Patient Protection and Affordable Care Act for funding in support of the Alaska Reinsurance Program (ARP). The ARP is...more

Court Compels Discovery Of Reinsurance Allocation Information

by Carlton Fields on

In an action involving claims under facultative reinsurance for the reinsurance of asbestos risks, the reinsurer sought discovery of documents concerning the allocation of losses among the reinsurers on the program, and...more

Bankruptcy Court Requires An MF Global Holdings Bermuda Reinsurer To Post $15 Million Bond Before Deciding Motion To Compel...

by Carlton Fields on

In the most recent decision in an ongoing dispute between MF Global Holdings Ltd. and its (re)insurers, the Bankruptcy Court for the Southern District of New York ordered Allied World to post a $15 million bond before the...more

Court Declines To Quash Subpoena Issued To South Carolina Department Of Insurance In Companion Property Case

by Carlton Fields on

We previously reported on this case on January 5, 2016, June 28, 2016, July 20, 2016, and December 14, 2016. The case concerns Companion Property and Casualty Insurance Company’s participation in a fronted insurance program...more

District Court Rebuffs CFPB’s RESPA “Continuing Violations” Theory

by Foley & Lardner LLP on

On June 6, 2017, a federal district court in Menichino v. CitiBank rejected an interpretation of the RESPA Section 8 statute of limitations espoused by the CFPB in captive reinsurance cases, instead concluding that RESPA’s...more

Court Rejects Motion To Seal Summary Judgment Exhibits When Moving Party Fails To Provide Sufficient Factual Justification For...

by Carlton Fields on

Utica Mutual Insurance Company’s request that numerous exhibits filed in support of summary judgment be sealed has been rejected by a federal district court, which found that Utica’s general statements about the documents...more

IAIS Proposes Revisions To Insurance Core Principle 13 On Reinsurance

by Carlton Fields on

The International Association of Insurance Supervisors (“IAIS”) recently released proposed revisions to the existing version of its Insurance Core Principle 13 regarding “Reinsurance and Other Forms of Risk Transfer.” The...more

Changes in insurance regulation: China / Hong Kong / Singapore / Indonesia / Vietnam

by Hogan Lovells on

Please find our Asia insurance regulatory tracker for the first quarter of 2017. It includes updates on the new independent insurance regulator for Hong Kong (which will assume its functions on 26 June), new rules on...more

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

by Carlton Fields on

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

Insurers to benefit from mutual solvency recognition between Mainland China and Hong Kong

by Hogan Lovells on

On 16 May 2017 the CIRC and the Hong Kong Office of the Commissioner of Insurance (“OCI“) entered into a framework agreement aimed at mutual recognition of solvency regimes between Mainland China and Hong Kong....more

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