Represented a reinsurer in a confidential dispute against its broker. Our client contended that the broker failed to transmit loss and reserve information to the reinsurer’s retrocessionaires during contract negotiations, as well as during the administration of the contracts, and as a result, the reinsurer was required to defend against a number of (ultimately unsuccessful) actions by retrocessionaires seeking to vitiate the contracts and/or deny coverage for certain claims.
Represented a run-off company in a dispute involving disputed payments under a renewal rights agreement that our client used to sell a portion of its business to an active company. Our client sought to enforce the reporting and payment obligations due under the agreement.
Represented two international reinsurers in related but separate confidential arbitrations arising out of Whole Account Aggregate Excess of Loss Reinsurance treaties issued by the client to a multinational insurance company. Both disputes involved the interpretation and operation of the treaties and specifically, whether certain premiums were intended to be included in the treaties’ respective definitions of subject net earned premium income. Because of the way in which the treaties were structured a key issue in the arbitration was whether the treaties effectively transferred risk or were financial reinsurance vehicles. Following a series of interim rulings favoring the clients, the clients were able to resolve their respective disputes on extremely favorable terms. This matter was handled prior to joining Foley.