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Where Advocacy Meets Business

January 2018 – The third installment of Chaffetz Lindsey’s Insurance/Reinsurance Report is now available. The report contains recent case summaries to keep you informed on new developments, and reminded of old ones. The cases in this issue include:

New York Court of Appeals Holds that Reinsurance Contracts are Governed By Ordinary Principles of Contract Interpretation Implicitly rejecting the Bellefonte rule, the Court rules that Excess v. Factory Mutual did not create a special rule capping reinsurers’ obligations for defense costs in addition to limits.

Foreign insurer required to post pre-answer security before moving to compel arbitration …  New York Insurance Law § 1213(c) applies to policies issued through foreign brokers.

Following Viking Pump, the Second Circuit applies “all sums” allocation to long tail environmental losses  “Prior insurance” and “continuing loss” provisions required all sums allocation.

Arbitration award vacated for “evident partiality” based on party-appointed arbitrator’s non-disclosure of its relationships with individuals affiliated with cedent …  Parties’ agreement to use non-neutral party-arbitrators did not preclude application of “evident partiality” ground for vacatur.

To view the report in its entirety, please click here.

Illustrations by Hank Blaustein

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Editors: Charles Scibetta | Steven Schwartz | Andrew Poplinger | Karen Baswell

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