Represented a state-created, no-fault liability fund in connection with its efforts to recover from its reinsurers under specific and aggregate stop-loss reinsurance contracts. Issues included late notice, challenges regarding the reasonableness and actuarial soundness of the client’s reserves, the present value of potential lifetime medical care, and the evaluation of actuarial and contract-based challenges to recoveries.
Represented a reinsurer in a confidential arbitration relating to a disputed billing from a ceding company. The matter involved the ceding company’s attempt to recover for workers' compensation carve out losses. The panel found for our client on all issues and denied relief to the ceding company.
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.