Yemeni-based Houthi forces have attacked more than two dozen vessels transiting the Red Sea since the October 7, 2023, start of the current Israel-Hamas conflict, leading to a surge in marine war insurance premiums. Houthi...more
Globalisation in virtually all business sectors is nothing new. Indeed, this phenomenon continues to expand and evolve, including broadening the scope of the global insurance market and its impact on litigation in the United...more
With Lloyd’s syndicates due to lose their EEA passporting rights on 31 December 2020, on 25 November the English High Court sanctioned a Part VII transfer of all policies (or parts of policies) insuring EEA risks from the...more
It is an outcome few people expected. Back in August, the Judicial Panel on Multidistrict Litigation (Panel) refused plaintiffs’ requests to set up a single industry-wide multi-district litigation, which would have...more
In a case out of Ohio, the Sixth Circuit recently held that the underwriters of two policies through Lloyd’s of London are not liable for a $2.2 million judgment awarded after a plaintiff was injured on a hunting trip. The...more
The Panel on Multidistrict Litigation has rejected efforts to centralize pretrial proceedings in actions in Pennsylvania and Illinois seeking insurance coverage for business interruption losses resulting from COVID-19. The...more
The Joint Panel on Multidistrict Litigation declines petitions for an industry-wide MDL, but will consider four insurer-specific MDLs. In declining the petitions for an industry-wide MDL, the panel concluded that the...more
On July 10, 2020, Lloyd’s of London (“Lloyd’s”) issued Market Bulletin Ref: Y5299 (the “Bulletin”) announcing that it will seek to relinquish its admitted licenses in Kentucky, Illinois and the U.S. Virgin Islands. The...more
Financial services firms have spent a small fortune in planning for a post-Brexit world. Now that the UK has left the EU and we are in an implementation period due to end on 31 December 2020, this article looks at what forms...more
The Second Circuit recently held that parties seeking to vacate awards under Federal Arbitration Act Section 10(a)(2) must satisfy a higher burden in showing evident partiality by a party-appointed arbitrator. ...more
In Certain Underwriters at Lloyd’s of London v. Federal Deposit Ins. Corp., No. 16-16702 (11th Cir. Jan. 23, 2018), the Eleventh Circuit concluded that a “prior acts” exclusion in a D&O policy did not bar coverage where the...more
In a proceeding seeking an order for disclosure of documents from Barclays Bank, the English High Court of Justice considered the scope of the agency involved in a run-off agreement between a reinsurance broker and another...more
A New York Court vacated an arbitration award, finding that a party appointed arbitrator’s undisclosed relationships with the appointing party amounted to a relatively infrequent instance in which such nondisclosure...more
A Texas federal court addressed a dispute as to whether the insurance policy at issue contained an arbitration agreement and whether it required arbitration of the particular claim. Looking at the “Law and Practice” provision...more
Lloyd’s Chief Risk Officer, Sean McGovern, spoke to the Insurance Institute of London yesterday about the impact of a possible Brexit on insurers, reinsurers and brokers. The speech was delivered at a sensitive time, and with...more
Certain Underwriters at Lloyd’s of London petitioned the U.S. District Court for the District of Massachusetts to confirm an award issued by a three-member panel in an arbitration against Transport Insurance Company. The...more
In a short handwritten ruling, a court recently denied Odyssey Reinsurance Company’s challenge to a replacement arbitrator appointed by its opponents, Certain Underwriters at Lloyds London Syndicate 53 and Reliastar...more
Two weeks ago in Foster Poultry Farms, Inc. v. Certain Underwriters at Lloyd’s, London, 2015 U.S. Dist. LEXIS 138609, 2015 WL 5920289 (E.D.Cal., Oct. 9, 2015), a California Court applying New York law found coverage under a...more
This summer, the Supreme Court of Pennsylvania addressed an important question that has divided other courts: if an insurer defends a claim subject to a reservation of rights, may the insured settle the claim without the...more
On August 26, the Second Circuit Court of Appeals considered whether a trial court had appointment authority under the Federal Arbitration Act (“FAA”). Overturning a prior order that denied Odyssey Reinsurance Company’s...more
A federal district court in New York entered an order enjoining an attempt at a second arbitration initiated by Equitas Insurance Limited and Certain Underwriters at Lloyd’s of London against Arrowood Indemnity Company. The...more
In Capital City Real Estate, LLC v. Certain Underwriters at Lloyd’s, London, No. 14-1239 (4th Cir. June 10, 2015), the Fourth Circuit Court ruled that a Maryland federal court erred in granting summary judgment to Certain...more
No Policy? No Problem, The First Circuit Rules In A Coverage Dispute - Why it matters: This case addresses the standard for pleading a missing insurance policy where the alleged insured, a private educational...more
A federal judge in New York has denied reinsurers’ motions for relief from a prior judgment. The reinsurers, Equitas Insurance Limited and Certain Underwriters at Lloyd’s of London, argued that they were entitled to judicial...more