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
NOWOTNY KNOWS SQUAT! Part 2 Using PPLI and PPVA Annuities to Raise Assets Under Management and Sell More Life Insurance
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
Amid his blather during the Chiefs-Bills game on Sunday night, Tony Romo made an insightful comment. The top quarterbacks in the playoffs excel at risk management, he explained. They see risks developing before others do and...more
Texas Insurance Co. sued Talisman Specialty Underwriters Inc. for breaching the parties’ managing general agent (MGA) agreement by authorizing the issuance of hundreds of insurance policies by Texas Insurance in sectors (like...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
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 our work with multinational corporations, we routinely place insurance programs with locally admitted policies around the world, including Russia. However, on March 15, 2022, Vladimir Putin signed a law prohibiting...more
Oregon is committed to closing the remaining gap in health insurance coverage and doing so in a way that helps the State meet its goal of eliminating health inequities. According to the Oregon Health Insurance Survey,...more
The Lloyd’s Market Association (the “LMA”) recently released four model clauses to exclude coverage for “war” from cyber insurance policies. The exclusions align with the requirement that all insurance policies written at...more
The global reinsurance landscape is an interconnected, intertwined marketplace that continues to grow and evolve. As insurance companies, agencies, program administrators and other industry actors continue to expand their...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 question before the Southern District of New York was whether, under English law, certain facultative reinsurance policies obligated a reinsurer to indemnify its cedent for a $20 million settlement. The finding was...more
For those old enough to remember, Abbott & Costello had a routine where the famous comedy duo debated the confusing question of “Who’s On First”. The evasive answer appeared to be in the eyes of the beholder....more
The Bellefonte Cap - The Bellefonte Cap is a shorthand reference to the "reinsurance accepted" limit set forth in a facultative certificate generally capping the reinsurer's obligations with respect to loss and expense...more
The Court of Appeals of Nebraska has affirmed the dismissal of a claim under a reinsurance participation agreement based on lack of personal jurisdiction....more
This article follows on from a series of previous articles seeking to address climate change litigation in the context of insurance and reinsurance. Three different, but important, decisions in December 2019 have once again...more
The Eighth Circuit reversed a district court decision vacating an arbitration award relating to a federal crop insurance policy issued through a standard reinsurance agreement with the Federal Crop Insurance Corp. (FCIC). The...more
The plaintiffs, U.S. Fire Insurance Co. and North River Insurance Co., issued 12 umbrella and excess umbrella liability policies for a combined coverage of $244 million to a manufacturer of respiratory protection equipment...more
On remand from the Second Circuit, the Northern District of New York was asked to determine whether Utica Mutual Insurance Co. (the cedent) had a defense obligation under its umbrella policies. If it did, then Utica would be...more
Lamorak Insurance Co. issued excess policies to Olin Corp. and also reinsured those policies with the defendants, Certain Underwriters at Lloyd’s, London. After Lamorak and Olin settled a declaratory judgment action...more
The Southern District of New York granted a ceding insurer’s motion to dismiss certain counterclaims by a defendant-reinsurer, finding their reinsurance agreement was never rescinded and that the cedent adequately performed....more
After a ten-day bench trial involving ten fact witnesses and five expert witnesses, the Northern District of New York found that certain facultative certificates did not implicitly contain follow-the-settlements or...more
A Michigan federal court declined to bifurcate a case involving a contract dispute between a ceding insurer, Amerisure, and its reinsurer, Transatlantic Re, in a case arising from underlying asbestos claims dating back to the...more
The Second Circuit has partially vacated summary judgment rulings in a case involving the reinsurance of asbestos-related risks. ...more
Vantage, the plaintiff, had purchased insurance from Assured Risk Transfer (ART) against the risk that a company to which Vantage had loaned $22 million would default....more
The follow the fortunes (or follow the settlements) doctrine has been an important part of many reinsurance relationships. This Special Focus article focuses on divergent case law as to whether the doctrine is purely a matter...more