It didn't take long for reinsurance disputes to arise from the recent $2 billion settlement between insurers of the World Trade Center and leaseholders of Silverstein Properties, Inc., that was announced on May 23. The very next day, on May 24, SCOR SA issued a press release announcing that it plans to arbitrate claims arising out of the settlement ceded to it by one of the insurers, Allianz Global Risks US Insurance Co., on the grounds that the settlement does not respect the terms and conditions of the reinsurance certificate issued to Allianz and consists of ex gratia payments. SCOR did not provide any further details as to why its position is that the settlement is not covered under the reinsurance certificates at issue. SCOR's decision to commence arbitration represents the first of what could be many disputes between insurers and reinsurers stemming from the underlying settlement, which was negotiated by New York Governor Eliot Spitzer and New York Insurance Superintendent Eric R. Dinallo.