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Results: 1-10 of 182

Eighth Circuit rules on diversity jurisdiction for federal actions to compel arbitration
  • Locke Lord LLP
  • USA
  • August 26 2010

A decision of the Eighth Circuit Court of Appeals, Northport Health Services of Arkansas, LLC v. Rutherford, No. 09-2433 (8th Cir. 2010), recently held that diversity of citizenship jurisdiction in the context of a motion to compel arbitration under 4 of the Federal Arbitration Act (“FAA”) can be determined by looking at the citizenship of the parties named in the proceedings before the district court, plus any indispensible parties who must be joined


New York Court of Appeals approves of stranger-owned life insurance contracts, for now
  • Locke Lord LLP
  • USA
  • November 18 2010

A five-judge majority of the New York Court of Appeals has declared that a person may procure an insurance policy on his or her own life and immediately transfer that policy to one without an insurable interest, regardless of the purchaser's intent


Third Circuit affirms district court’s vacatur of arbitration award, finding that the panel exceeded its powers by awarding relief not sought by either party
  • Locke Lord LLP
  • USA
  • November 18 2010

The U.S. Court of Appeals for the Third Circuit recently affirmed a District Court’s vacatur of an arbitration award because the arbitration panel exceeded its authority in ordering relief not sought by either of the parties and removing from the parties’ reinsurance agreement a material provision


Illinois federal court rules that reinsurer’s motion to vacate arbitration award is untimely under the Federal Arbitration Act
  • Locke Lord LLP
  • USA
  • November 4 2010

R&Q Reinsurance Co. v. American Motorist Ins. Co., involved a dispute arising under a series of reinsurance treaties entered into by the parties


New York court rules in favor of producer compensation disclosure regulation
  • Locke Lord LLP
  • USA
  • November 24 2010

As we last discussed here, the Independent Insurance Agents and Brokers of New York ("IIABNY") and the Council of Insurance Brokers of Greater New York ("CIBGNY") jointly filed an Article 78 proceeding to block the implementation of Insurance Regulation 194, which requires insurance producers to disclose certain information regarding their compensation to their clients


Connecticut state court finds that a court is permitted to remand an arbitration award to panel for clarification post-Hall Street
  • Locke Lord LLP
  • USA
  • August 18 2010

Plaintiff Hartford Steam Boiler Inspection and Insurance Company ("Hartford") appealed a decision permitting a court to remand a dispute over an arbitral award to the arbitration panel for clarification of that award


Third Circuit revives limited portions of in re: insurance brokerage antitrust litigation (MDL 1663)
  • Locke Lord LLP
  • USA
  • August 18 2010

Nearly three years after a federal district court dismissed with prejudice a nationwide class action alleging antitrust and RICO claims against insurers and brokers in connection with contingent commission arrangements, the Third Circuit Court of Appeals has revived a limited swath of plaintiffs' claims


Fifth Circuit compels arbitration, holding that parties clearly intended arbitrator to decide issues of arbitrability
  • Locke Lord LLP
  • USA
  • October 22 2010

Plaintiffs purchased disability insurance from First American National, which later became known as defendant Regions Bank ("Regions"


Second Circuit finds that portion of cedent’s loss is outside the scope of the reinsurance agreement, relieving reinsurer of any obligation to follow the fortunes
  • Locke Lord LLP
  • USA
  • November 4 2010

We previously blogged about the District of Connecticut’s decision in Arrowood Surplus Lines Ins. Co. v. Westport Ins. Corp., No. 08-cv-1393 (D. Conn. 2010), in which the court held that a reinsurer had no duty to honor the portion of a cedent’s loss that was outside the scope of the reinsurance agreement at issue


Third Circuit rules that follow the fortunes doctrine binds reinsurer to part, but not all, of a cedent’s post-settlement allocation
  • Locke Lord LLP
  • USA
  • November 4 2010

In Travelers Casualty & Surety Co. v. Insurance Co. of North America, Nos. 06-4100, 06-4101 and 08-1032 (2010), the U.S. Court of Appeals for the Third Circuit affirmed the District Court’s decision holding that a cedent’s settlement allocation was reasonable and binding on the reinsurer, except for the portion of the allocation that was based upon annualized per-occurrence limits for multi-year policies