August 2019 – The sixth 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:
On an issue that may find its way to the US Supreme Court for final resolution, the Fifth Circuit holds that the New York Convention is an international treaty rather than an “Act of Congress” and is therefore not reverse preempted under McCarran-Ferguson by state law prohibiting arbitration of insurance disputes.
Twice this year, the NDNY ruled on whether the phrase “occurrence not covered by” in reinsured umbrella policies covered expenses in excess of liability limits for occurrences for which the primary policy coverage was exhausted. The court gave inconsistent answers.
Federal court admits it was wrong to rewrite policy to create coverage. On reconsideration of its own decision, the court applied the policy’s broad and unambiguous firearm exclusion.
Illustrations by Hank Blaustein
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