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Results: 1-10 of 1,254

British court approves transfer of reinsurance from Sompo Japan to Transfercom Ltd
  • Jorden Burt LLP
  • USA
  • April 5 2011

A justice of the UK Companies Court, Chancery Division, recently approved over the objections of policyholder Axa Corporate Solutions Assurance, a scheme under Part 7 of the UK Financial Services & Markets Act 2000 for the transfer of certain insurance business from Sompo Japan Insurance Inc


Recent decisions on confirmation of arbitration awards
  • Jorden Burt LLP
  • USA
  • February 24 2010

This post summarizes the salient issues and key points of recent decisions on arbitration awards


Reinsurance policy requires excess carrier to pursue subrogation rights against primary carrier
  • Jorden Burt LLP
  • USA
  • March 26 2012

Excess carrier United Heritage Property and Casualty Company asserted claims for breach of duty to defend and breach of duty to indemnify in a subrogation action against primary carrier Farmers Alliance Mutual Insurance Company (“FAMI”


As body shops continue to attack contracted labor rates, third-party claims become an ominous new front
  • Jorden Burt LLP
  • USA
  • March 8 2013

Auto insurers control the cost of collision repairs with direct repair programs, featuring networks of repair shops that agree to discount labor


Court enforces personal guarantee of reinsurance contract against insured’s chairman and CEO
  • Jorden Burt LLP
  • USA
  • September 9 2008

Defendant, Centrix Financial, LLC (“Centrix”), sought default protection insurance (“DPI”) covering its “Portfolio Management Program” a program it created to protect lenders of sub-prime auto loans which Centrix bundled against the risk of deficiency loan balances and property damage connected with default repossessions


Prejudgment interest: covered under reinsurance policy; postjudgment interest: not subject to indemnification
  • Jorden Burt LLP
  • USA
  • April 8 2010

OHIC Insurance sued to recover payment of statutory interest and legal expenses incurred in a 1998 Wisconsin medical malpractice lawsuit pursuant to a clause in a reinsurance agreement with ERC indemnifying OHIC for certain "losses" and "claim expenses


"Reinsurance accepted” clause interpreted to define maximum exposure, including expenses
  • Jorden Burt LLP
  • USA
  • May 5 2010

A court has found that a reinsurer's (Global Reinsurance Corporation of America) maximum exposure under a facultative certificate is $1 million dollars, inclusive of expenses


Federal court of appeal announces review standard applicable to rulings on motions to stay lawsuits pending arbitration
  • Jorden Burt LLP
  • USA
  • April 18 2010

In a case of first impression at the federal appellate level, the First Circuit, in Powershare, Inc. v. Syntel, Inc., 597 F.3d 10 (1st Cir. Mar. 1, 2010), held that the appropriate standard of review to be utilized by a District Judge when reviewing a Magistrate Judge’s disposition of a motion to stay litigation pending the completion of a parallel arbitration proceeding is the clearly erroneous standard


Second Circuit affirms contempt order in Kyivstar dispute
  • Jorden Burt LLP
  • USA
  • October 29 2009

In a companion opinion to the Second Circuit affirming the district court’s grant of a motion to confirm the final arbitral award in a dispute involving Kyivstar G.S.M. (“Kyivstar”), a Ukrainian mobile telecommunications company, the Second Circuit has affirmed the decision of the district court finding Storm LLC (“Storm”) and its corporate parents (collectively, the “Respondents”) in civil contempt for the failure to comply with the final arbitration award and denying the Respondents’ motion for an order to amend the contempt order to delay sanctions and eliminate the requirement that Storm deposit its shares of Kyivstar with the court to secure compliance with the award


MDL panel consolidates 412(i) and 419 plan litigation
  • Jorden Burt LLP
  • USA
  • December 2 2009

In re Indianapolis Life Ins. Co. Internal Revenue Service 412(i) Plans Life Insurance Marketing Litig., (MDL No. 1983), was originally created to centralize claims relating to the design, marketing, and sale of specially designed life insurance policies used to fund defined benefit pension plans under 412(i) of the Internal Revenue Code