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COVID-19 Losses From a Reinsured’s Perspective

This blog post provides some thoughts on addressing COVID-19 losses from the perspective of the reinsurance buyer: the reinsured or cedent.  A cedent has two main considerations when faced with a loss:  (1) is the loss a covered loss under the cedent’s insurance policies? and, (2) if the loss is a covered loss, is it … Continue Reading

Final Arbitration Award Including Attorney Fees Confirmed

Awards of attorney fees are few and far between in reinsurance arbitrations, but they happen.  When they happen, the losing side sometimes seeks to vacate the award based on the arbitrators exceeding their powers in awarding attorney fees.  In a recent case, the court had to decide whether to confirm or vacate an award with … Continue Reading

Liquidator Compelled to Arbitrate Hurricane Reinsurance Disputes

The federal policy favoring arbitration sometimes bumps up against state-based receivers where the receiver would rather the receivership court address reinsurance disputes than have the matter arbitrated.  In the aftermath of Hurricanes Irma and Maria, which devastated Puerto Rico, reinsurance disputes arose over a cedent’s allocation between the hurricanes and other aspects of the many … Continue Reading

Exculpatory Clauses in Reinsurance Agreements

Exculpatory clauses appear in many contracts. They are often used to protect a contracting party from damages caused by its actions or the actions of others. For example, a hold harmless clause may protect one party from third-party suits caused by the alleged negligence of the other party. Exculpatory clauses, like hold harmless or indemnification clauses, … Continue Reading
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