Court of Appeals Archives - The Insurance & Reinsurance Report

July 17, 2019 Uncategorized

Second Circuit Finds Insurer’s 52-Day Delay in Disclaiming Coverage Did Not Violate Insurance Law Section 3420(d)(2)’s Timely Disclaimer Requirement

The court of appeals for the Second Circuit recently confirmed that a liability insurer that waits to deny coverage so that it can investigate the facts giving rise to the disclaimer will not be estopped from denying coverage under Insurance Law Section 3420(d)(2), provided that the insurer does not use the investigation as a tactic to delay the disclaimer. United Fin. Cas. Co. v. Country-Wide Ins. Co., No. 18-3022, 2019 WL 2724267 (2d Cir. July 1, 2019).

Section 3420(d)(2) requires that for liability …

April 13, 2015 Reinsurance

1st Circuit is “Honorably Engaged” by Reinsurance Arbitration Award

In First State Insurance Co. v. National Casualty Co., No. 14-1644, 2015 WL 1263147 (1st Cir. Mar. 20, 2015) the U.S. Court of Appeals for the First Circuit addressed a motion to vacate an arbitration award related to multiple reinsurance and retrocessional agreements. The decision was the court’s first to address the operation and effect of a so-called “honorable engagement” provision in an arbitration clause.

The case arose out of multiple agreements between First State Insurance Company and New England Reinsurance Corporation (collectively “First State”) …