March 2017 – The second 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:
Second Circuit asks New York Court of Appeals whether 27-year old precedent in Bellefonte is correct …
Federal Appeals court asks New York high court whether, under New York law, a “Reinsurance Accepted” provision in a facultative certificate caps reinsurance recovery for defense costs.
Umpire’s Service as Party-Arbitrator for Separate Company with Close Relationship to Party Does Not Constitute “Evident Partiality” …
Court finds vacatur of arbitral award unwarranted in the absence of familial, business or employment relationship between umpire and party.
Federal Appeals Court confirms summary judgment in favor of insurer on late-notice defense …
Court confirms that coverage may be barred by a policyholder’s failure to provide timely and adequate notice, as required under the policies.
Insurer does not, as matter of law, waive a late-notice defense by failing to identify it in its disclaimer letters …
NY Court of Appeals reaffirms that in property coverage disputes, common law waiver standards govern, not “heightened” statutory disclaimer requirements.
To view the report in its entirety, please click here.
Illustrations by Hank Blaustein