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Former New York State Superintendent of Insurance, James J. Wrynn, joins...
Goldberg Segalla LLP is pleased to announce James J. Wrynn will join the law firm March 5. He will run the firm’s New York office and will be a senior partner in its Global Insurance Services Practice...
View ArticleCourt Clarifies the Discoverability of Loss Reserves and Reinsurance Information
Isilon Systems, Inc. V. Twin City Fire Ins. Co. (W. D. Wash. February 15, 2012) Plaintiff, Isilon Systems, Inc. (“Isilon”) brought a motion to compel arguing that Defendant, Twin City Fire Ins. Co....
View ArticleCourt of Appeals: New York’s Antitrust Statute does not reach London’s...
Global Reinsurance Corp. v. Equitas Ltd. (N.Y. March 27, 2012) In a suit by a New York branch of a German reinsurance corporation against U.K.-based entities engaged in the business of providing...
View ArticleFederal Judge Dismisses Breach of Contract Suit Against Reinsurance Brokers
Olympus Insurance Co. v. Aon Benfield Inc. and Benfield Inc. (D. Minn. March 30, 2012) On March 20, 2012 a federal judge in Minnesota dismissed a breach of contract action brought by Olympus Insurance...
View ArticleNo Early Exit for Ex-AIG Executives
People v. Greenberg (N.Y. App. Div. 1st Dep’t May 8, 2012) On March 8, 2012 New York’s Appellate Division, First Department, denied summary judgment motions filed by two former executives of American...
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Reinsurer Avoids Asbestos Defense Costs
Pacific Employers Insurance Co. v. Global Reinsurance Corp. of America (3d Cir. Sept. 7, 2012) On September 7, 2012, the US Court of Appeals for the Third Circuit reversed a lower court ruling holding...
View ArticleWhether Reinsurance Intermediary Entitled to Annual Fee After Reinsured...
Homeowners Choice, Inc. v. Aon Benfield, Inc. (N.D. Ill., September 10, 2012) Homeowners Choice Property and Casualty Insurance Company (Homeowners Insurance) is a subsidiary of Homeowners Choice, Inc....
View ArticleDistrict Court Resolves Complex Retrocessional Debate Largely in Favor of the...
Munich Reinsurance America, Inc. v. American National Ins. Co. (No. 09-6435, September 28, 2012) This United States District Court for the District of New Jersey case focuses on the complex...
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Hurricane Sandy: Déjà vu on business interruption losses issues? How a 2010...
In the wake of the damage and destructions caused by Hurricane Sandy many policyholders (and insurers and reinsurers) are currently checking what is likely or not likely covered under their policies....
View ArticleNo Unjust Enrichment or RESPA Violations in Suit Against HSBC
McCarn v. HSBC USA, Inc. (E.D.Cal.Nov. 9, 2012) On November 13, 2012, Judge Lawrence J. O’Neill of California’s Eastern District dismissed claims of unjust enrichment and allegations of Real Estate...
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To [Follow] or Not to [Follow] – That is the Question: NY Court of Appeals...
The weather in Albany, New York might have been cold on January 2, but the New York Court of Appeals’ bench was scorching during the oral argument for the appeal in United States Fid. & Guaranty v...
View ArticleCT Judge Says Insurer’s New Claims Against Reinsurer Are Plausible
Travelers Indem. Co. v. Excalibu R Reinsurance Corp. (D.Conn.Feb. 1, 2013) On February 1, 2013, a federal judge in Connecticut granted an insurer’s motion to amend its complaint against a reinsurer to...
View ArticleEnglish Court Upholds Arbitral Award in Which Losses Sustained by Reinsurers...
Aioi Nissay Dowa Insurance Company Ltd v. Heraldglen Limited and Others [2013] EWHC 154 (Comm) This case is an appeal under section 69 of the Arbitration Act 1996 (appeal on a point of law) of an...
View ArticleNo Prejudice, No Problem: Reinsurer Not Required to Show Prejudice in Late...
AIU Ins. Co. v. TIG Ins. Co. (S.D.N.Y. Mar. 25, 2013) On March 25, Judge Sidney H. Stein, of the USDC for the Southern District of New York, agreed with a magistrate report and recommendation and...
View ArticleReconsideration Granted in Part in Reinsurance Dispute
Munich Reinsurance Am., Inc. v. Am. Nat’l Ins. Co. (D.N.J. Mar. 28, 2013) On March 28, 2013, USDC Judge Freda L. Wolfson granted summary judgment in part on a motion for reconsideration of an earlier...
View ArticleReinsurers Kept on the Hook Despite Cedent’s Settlement in $28 Million Kuwait...
Beazley Underwriting Limited and others v Al Ahleia Insurance Company and other companies [2013] EWHC 677 (Comm) This case centers on the relationship between cedents and reinsurers and compliance with...
View ArticleMay Edition of Reinsurance Review is Now Available
For a free copy of this month’s edition, click here. To receive this publication for free each month, please contact Jeffrey Kingsley at jkingsley@goldbergsegalla.com.
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Good News: Well Drafted Warranties Do Work
Amlin Corporate Member Limited and Others v. Oriental Assurance Corporation [2013] EWHC 2380 (Comm) A dispute between London reinsurers and their Philippine reinsured arose from the sinking of a ferry,...
View ArticleNew York Court Predicts California’s Future: Allows Bad Faith Exception in...
Ins. Co. of the State of Penn. v. Argonaut Ins. Co. U.S. Dist. Ct., S.D.N.Y. (August 6, 2013) In this case, the cedent sued its reinsurer when it denied coverage because of late notice of its claim....
View ArticleIn England, an Insured Under a Liability Policy Must Demonstrate Actual Legal...
The insured in this case, Astrazeneca Insurance Company Ltd (AIC), was the captive insurance company for the Astrazeneca group of companies (AZ) and provided liability insurance cover for the period 1...
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