A District Court confirmed an arbitration award in a non-reinsurance context in Lebeau v. Oppenheimer & Co., rejecting contentions that the award should be vacated because, inter alia, the arbitrators did not allow sufficient discovery, did not adequately disclose conflicts and demonstrated bias. One interesting finding is that under the Federal Arbitration Act, one may waive such objections by raising them for the first time in the context of motions to confirm or vacate a later award, rather than raising them in the arbitration, at the time of the alleged misconduct. Lebeau v. Oppenheimer & Co., Case No. 05-5876 (USDC E.D. Pa. June 23, 2006).
RAA program on financial analysis
View the program agenda for the RAA's program on reinsurance financial analysis, to be presented October 19-20 in New York City.
Reinsurance offset dispute must be arbitrated
In Aegis Security Insurance Co. v. Harco National Insurance Company, Case No. 06-0606 (USDC M.D. Pa. June 22, 2006), there was a dispute as to whether one party to two reinsurance agreements could offset an amount under one treaty against a liability owed under the other treaty. The reinsurance agreements contained an offset provision. The District Court compelled arbitration, holding that the dispute involved the interpretation of the offset provision, bringing the dispute within the arbitration provision, which required the arbitration of “any dispute arising out of the interpretation, performance or breach of this Agreement.”
Operational trends in the reinsurance industry
Brief article from the Insurance Journal on operational trends in the reinsurance industry.
RAA program on reinsurance claims
View the program brochure for the RAA’s program on reinsurance claims management, September 28-29 in New York City.