Reinsurance Litigation
Members of Baker & McKenzie's Insurance Disputes Group handle a variety of reinsurance litigation matters. A sample of representative matters include the following:
· Litigation involving a State Guaranty Fund's effort to collect from reinsurer of an insolvent cedant.
· Litigation between captive insurer and reinsurers over applicable treaty year for potentially significant loss. The difference in applicable years is whether $5 million or $25 million SIR applies.
· Litigation concerning a workers' compensation reinsurer's alleged breach of its obligations under the parties' reinsurance agreement by over-reserving and overpaying claims in order to raise premium in this retrospective premium reinsurance contract.
· Representation of life reinsurer in $206 million parallel ad hoc arbitration and litigation proceedings relating to the number of occurrences stemming from the September 11, 2001 terrorist attack on the World Trade Center, Pentagon and Pennsylvania.
· Representation of reinsurer in dispute involving tens of millions of dollars in workers compensation carve-out claims.
· Representation of reinsurer in ad hoc arbitration pending in Florida involving in excess of $20 million in group health claims.
· Representation of reinsurer in action by a cedent's assignee regarding millions of dollars of claims occurring prior to inception of reinsurance treaty.
· Representation of reinsurer to recover losses sustained due to the failure of cedent and intermediary to disclose negative audits of a book of sub-standard auto business that led reinsurer to renew treaties.
· Representation of reinsurer in an action by an insured of Reliance seeking to force reinsurer to assume the same reinsurance terms for a new insurer once Reliance went insolvent.
· Representation of reinsurer in a class action seeking to transform a group health program underwritten by a cedent and 90% reinsured by reinsurer into thousands of individual policies.
· Representation of reinsurer in action by a health care cost auditor regarding termination of services agreement. Trademark issues related to post termination businesses.
· Representation of major reinsurer in connection with $200 million dispute over life insurance payouts in the aftermath of the September 11, 2001 terrorist attack.
· Audit of all reinsurance and retrocession agreements and advice on exposure in Unicover-type situation involving $100 million workers' compensation program.