Arbitration in general is intended as an alternative to litigation in the courts. For good reasons, courts rarely intervene in pending arbitrations and instead require the parties, under most circumstances, to wait for a final award before seeking redress for perceived grievances in the arbitration process. Indeed, the Federal Arbitration Act, 9 U.S.C. § 1, et seq. (“FAA”), … [Read more...] about When Courts Peek Under the Arbitral Veil: The Role of the Courts in Managing Your Reinsurance Arbitration
Legal Case Law
Assaulting the Bellefonte Citadel: Reinsurers Win…Not So Fast
In the 1990 landmark decision of Bellefonte Reinsurance Co. v. Aetna Cas. & Sur. Co., 903 F.2d 910 (2d Cir. 1990), the Second Circuit Court of Appeals held that the reinsurer’s liability was capped at the dollar amount stated in the “Reinsurance Accepted” provision of the applicable facultative certificate. In doing so, the court relied on the portion of the … [Read more...] about Assaulting the Bellefonte Citadel: Reinsurers Win…Not So Fast
Hydraulic Fracturing: A Retrospective of Key Legal Disputes in 2014 and Predictions for the Future
In 2014, hydraulic fracturing (“fracking”) remained a hot national topic. Often making headlines, fracking also made its mark in litigation where key battles wound their way through the courts. Reviewing just some legal developments confirms the industry faces unique, sometimes prejudicial, challenges despite continued growth. For example, the Eighth Circuit’s decision in … [Read more...] about Hydraulic Fracturing: A Retrospective of Key Legal Disputes in 2014 and Predictions for the Future
Is the Duty of Utmost Good Faith in Runoff?
For centuries the venerable duty of utmost good faith has served as a bedrock principle of the reinsurance industry: a standard that has set reinsurance contractual relationships apart from other commercial transactions governed by “caveat emptor.” However, a number of commentators in the industry have questioned whether the duty of utmost good faith has been in … [Read more...] about Is the Duty of Utmost Good Faith in Runoff?
