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Unauthorized insurer’s objection to ruling on pre-pleading security overruled

Jorden Burt LLP
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USA
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May 25 2010

On April 19, 2010, we reported on a magistrate judge ordering that the defendant, an unauthorized insurer, post pre-pleading security in the amount of $660,389

Second Circuit grants motion to stay pending appeal of decision vacating order that an arbitration must commence anew

Jorden Burt LLP
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USA
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April 15 2010

On August 3, 2009, we reported on a district court vacating its prior order that the arbitration must commence anew and reappointing an arbitrator to the panel after the arbitrator's health improved

District court denies motion for reconsideration brought by assignee of reinsurance claims

Jorden Burt LLP
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USA
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April 1 2010

This is our third installment covering the action brought by B.D. Cooke & Partners Ltd. (“Cooke”) to recover money from certain underwriters at Lloyd’s, London as the assignee of rights under certain reinsurance contracts

First Circuit clarifies standard of review, concludes that agreement mandates arbitration

Jorden Burt LLP
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USA
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March 29 2010

In this dispute between two parties to a joint venture agreement, one party filed a lawsuit and the other submitted an arbitration demand

New York law applies to all claims in the Midland Insurance Company liquidation proceeding

Jorden Burt LLP
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USA
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March 17 2010

In this long-running legal saga surrounding the liquidation of Midland Insurance Company ("Midland"), the Superintendent of Insurance, Midland's reinsurers, and certain major policyholders stipulated to a case management order for determining the issue of whether New York substantive law controlled the interpretation of the Midland insurance policies at issue or whether the New York choice-of-law test must be conducted for each policy to determine the applicable substantive law

Be careful before signing that warranty letter

Jorden Burt LLP
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USA
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March 4 2010

In Rivelli v Twin City Fire Insurance Co, the plaintiffs, who were directors or officers at Fischer Imaging Co. (Fischer), sought to compel their excess D&O insurer, Twin City Fire Insurance Co. (Twin City), to advance costs to defend against an SEC civil enforcement action alleging securities fraud

Court dismisses securities law claims against reinsurer, grants leave to amend complaint

Jorden Burt LLP
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USA
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March 2 2010

PXRE Group Ltd ("PXRE") suffered significant losses following Hurricanes Katrina and Rita and sought to raise funds to pay out reinsurance claims through a public offering of common stock and a private offering of preferred shares

Court rules Nebraska arbitration law reverse-preempts the Federal Arbitration Act pursuant to the McCarran-Ferguson Act

Jorden Burt LLP
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USA
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February 4 2010

Along with an insurance policy, the parties previously entered into an administration agreement that obligated the defendant to reimburse the plaintiff for claims made under extended warranty contracts

Reinsurer not liable for losses, “follow the fortunes” clause not applicable

Jorden Burt LLP
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USA
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February 2 2010

Royal Surplus Lines Insurance Company, the plaintiff's predecessor, assumed the liabilities and acquired the related assets of an insurer that provided a one-year general liability policy to Equity Residential ("Equity"

Court affirms denial of motion to compel cedant to disclose attorney-client communications

Jorden Burt LLP
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USA
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January 5 2010

A New York appellate court summarily affirmed the denial of the reinsurers’ motion to compel the cedant to disclose attorney-client communications