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New York’s Highest Court Rejects ‘Unavailability of Insurance Exception’ Under ‘Pro Rata Time on the Risk Allocation’

On March 27, the New York Court of Appeals unanimously ruled that under a “pro rata time on the risk allocation,” insurers are not liable for years outside their policy periods when there was no insurance available to the...more

U.K. Court Of Appeal Finds Experienced “Insurance Or Reinsurance” Lawyers Are Eligible For Appointment To Arbitration Panel Under...

The U.K. Court of Appeal has held that an arbitration clause commonly found in London market excess of loss reinsurance treaties does not prohibit the appointment of insurance or reinsurance lawyers to an arbitration panel....more

Seventh Circuit Reverses Order Compelling Arbitration Of Dispute Between Two Non-Signatories To Arbitration Agreement

The U.S. Court of Appeals for the Seventh Circuit recently held that state law governs whether a contract’s arbitration clause is binding on non-signatories. The dispute arises from a consumer protection action filed by the...more

U.K. Court Finds Arbitration Respondent Did Not Waive Objection To Jurisdiction Of Arbitration Tribunal

The Queen’s Bench Division of the U.K.’s High Court of Justice has reversed a partial award by a tribunal of the London Court of International Arbitration (“LCIA”), which held that an arbitration respondent lost its right to...more

Court Enforces Arbitration Award, Finds Reinsurer Must Pay Settlement Between Retrocessionaire And Policyholder

Granting a motion to enforce an arbitration award, the U.S. District Court for the Southern District of New York has held that a reinsurer is liable for a $5 million settlement entered into between a policyholder and the...more

S.D.N.Y. Dismisses Insurer’s Claims Against Reinsurance Broker Under Economic Loss Doctrine, Finds No Special Relationship

A New York federal court has dismissed a ceding insurer’s counterclaims against its reinsurance broker, finding the insurer’s claims for negligence and breach of fiduciary were barred by New York’s economic loss doctrine, and...more

Expect Focus - Life Insurance, Volume IV, December 2017

EXPECTFOCUS is a quarterly review of developments in the insurance and financial services industry, provided on a complimentary basis to clients and friends of Carlton Fields Jorden Burt, P.A. Please see full Newsletter...more

Major Disruption in the Use of Technology and Trademarks in the Insurance Industry

A major study recently emerged regarding insurance industry brands. The study, conducted on the world’s top 10 insurance companies by brand value, shows that an industry transformation is occurring, and that insurers that...more

Magistrate Judge Recommends Denying Application For $305m Reinsurance Judgment

A Magistrate Judge in the U.S. District Court for the Southern District of New York has recommended that a default judgment totaling more than $221 million be entered against the Islamic Republic of Iran and in favor of...more

Wisconsin Adopts New Credit For Reinsurance Rule Based On Certified Reinsurers

On November 7, 2017, the Commissioner of Insurance for the State of Wisconsin issued an order approving a new rule to be added to Section Ins. Ch. 52, Wis. Adm. Code. The rule is intended to modernize Wisconsin’s credit for...more

Court Finds Confidentiality Provision In Arbitration Agreement Unconscionable, Compels Consumer Arbitration

The Eleventh Circuit has determined that a confidentiality provision in an arbitration clause was substantively unconscionable. The case involved a putative class action by David Johnson alleging that KeyBank National...more

SDNY Rules SEC Investigation Is A “Claim” Within Pending And Prior Acts Exclusion

The U.S. District Court for the Southern District of New York has held that a long-running investigation by the SEC constituted a “Claim” triggering the pending and prior claims exclusion in an excess directors and officers...more

U.K. Court Approves Multi-Billion Pound Plan To Transfer Annuity Liabilities Under Reinsurance And Business Transfer Agreements

The Queen’s Bench Division of the U.K.’s High Court of Justice recently approved a scheme proposed by Scottish Equitable Plc to transfer its liabilities as to over 185,000 insurance policies to Rothesay Life Plc. The scheme...more

Fifth Circuit Finds Order Not “Final” For Purposes Of Appellate Jurisdiction

The U.S. Court of Appeals for the Fifth Circuit held that an order compelling arbitration and staying a related action was not an appealable “final decision with respect to arbitration” under the Federal Arbitration Act...more

Fourth Circuit Reverses Ruling That Reinsurance Agreement Is An “Insurance Contract” Under Virginia Law

Applying the doctrine of judicial estoppel, a district court refused to compel arbitration finding that the arbitration clause in a reinsurance agreement was unenforceable under a Virginia statute that voided a mandatory...more

Sixth Circuit Affirms Vacatur Of Arbitration Award Based On Prior Termination Of Sales Contract

The Sixth Circuit has affirmed an order vacating an arbitration award, agreeing with the district court that the mandatory arbitration clause at issue was unenforceable upon termination of the agreement in which it was...more

Third Circuit Clarifies Abstention Doctrine in Insurance Coverage Declaratory Action

Insurers looking to remove declaratory judgment actions to courts in the Third Circuit were recently given some clarity — and, for one defendant insurer, a welcome reversal. On August 21, the U.S. Court of Appeals for the...more

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