By Mike Aylward on Posted in ReinsuranceThe fate of the so-called Bellefonte Re doctrine is now up to the New York Court of Appeals. On December 8, the Second Circuit issued an opinion in Global Reinsurance Corp. v. Century Ind. Co., No. 15-2164 (2d Cir. Dec. 8, 2016) asking New York’s highest state court to answer whether a District Court erred… Continue Reading
By Mike Aylward on Posted in ReinsuranceThe fifth annual claims symposium of the Massachusetts Reinsurance Bar Association is set for October 3 at the downtown Harvard Club. The symposium, which is annually attended by about 100 reinsurance claims executives and outside counsel, has the theme of The Future Is Now: Reinsurance in the Age of Superstorms, Cyber Loss and Other Emerging Risks.… Continue Reading
By Mike Aylward on Posted in ReinsuranceThe Court's opiniion seems designed to uphold the principle of "follow the settlements" and the deference that cedent's should ordinarily receive with a parallel recognition of the principle that reinsurers are fully within their rights to dispute cessions where, as here, not all seems right.… Continue Reading
By Mike Aylward on Posted in News,ReinsuranceThe Massachusetts Reinsurance Bar Association (MReBA), of which I am the Secretary, is hosting its third annual claims symposium at the Harvard Club in Boston. Registration is $150 for industry people and $250 for others. To register, go to the MReBA web site: www.mreba.org This year’s keynote speaker will be Tracey Laws, Senior Vice President… Continue Reading
By Mike Aylward on Posted in Recent Cases,ReinsuranceEven though Lumbermen’s reinsurers rebated over $2 million in premiums to LMC after its reinsurance recoveries consultant alerted it to the fact that a change in the manner in which Kember was booking reinsurance premiums was contrary to procedures recommended by the NAIC, the Seventh Circuit has ruled in Indiana Lumbemens Mut. Ins. Co. v.… Continue Reading
By Mike Aylward on Posted in ReinsuranceThe Connecticut Supreme Court has breathed new life into Hartford’s efforts to obtain reimbursement from its reinsurers for $1.15 billion that it paid to settle Western McArthur’s asbestos claims. In Hartford Acc. & Ind. Co. v. Ace-American Reinsurance Co., No. SC 17625 (Conn. December 25, 2007), the court declared that a Superior Court judge should… Continue Reading
