Practice Areas & Industries: Edwards Wildman Palmer LLP

 





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Practice/Industry Group Overview

The Department has a dedicated Reinsurance practice that specializes in reinsurance. We advise clients throughout the US, Europe (including the London market), Bermuda, Canada, Australia and elsewhere in complex, multi-jurisdictional disputes involving:

  • Aviation 
  • Brokers and Managing General Underwriters
  • D&O, financial institutions and credit risk 
  • Fidelity and Surety Business
  • Life and Health
  • Lloyd's and London Market
  • Insolvency, Rehabilitation and Restructuring 
  • Marine and Offshore Energy
  • Property and Casualty
  • Run-off and Exit Solutions 
  • Telecommunications
  • Underwriting Pools
  • Workers Compensation Carve-out Business

Our Reinsurance practice is widely recognized for its experience, depth and success on behalf of its clients. We have represented leading companies from all markets in hundreds of reinsurance arbitrations and litigation. We also assist in resolving disputes through mediation, negotiation and commutation. In the past few years, some of our notable matters have included:

  • representation at the vital center of the Unicover disputes, with significant arbitration successes, including one of the largest ever reinsurance arbitrations
  • successful prosecution of an arbitration upholding a life reinsurer's right to raise rates on yearly renewable term contracts
  • numerous arbitrations involving aggregation, allocation and occurrence determinations
  • representation of clients in disputes arising from non-traditional insurance instruments, such as those used to support transactions by Enron and WorldCom
  • acting in the context of major run-offs in a number of reinsurance disputes involving issues relating to recoverability of claims
  • acting for many reinsurers in relation to coverage disputes relating to large asbestos liability covers
  • acting for a significant underwriting pool in run-off in making a considerable number of reinsurance recoveries in arbitration
  • acting for a leading US insurer exposed to heavy losses as a result of participating in a London Market pool underwriting PA LMX business
  • devising and implementing a strategy for a global insurer to resolve a major reinsurance dispute with the market
  • assisting a monoline financial warrantor in rescinding its reinsurance of guarantees associated with two books of subprime mortgage obligations.

We assist clients in negotiating, drafting, structuring and obtaining regulatory approval of reinsurance agreements, including unique and complex arrangements. We also assist companies in comprehensive reviews of reinsurance wordings and developing treaty guidelines. We have represented parties in connection with significant equity investments by reinsurers in their ceding companies, and in the formation, licensing, acquisition and sale of reinsurers.


 

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Articles Authored by Lawyers at this office:

An Illinois Appellate Court Again Refuses to Recognize that Innocence Does Not Bar Rescission of an Insurance Policy
Patrick Frye, January 07, 2014
Illinois law permits rescission of an insurance policy if, in negotiating for the policy, the insured made an innocent, but material, misrepresentation.

NAIC: Bermuda, Germany, Switzerland and UK Now Qualified for Reduced Collateral Requirements
Amber S. Mills,Nick Pearson, January 06, 2014
On December 18, 2013, the National Association of Insurance Commissioners (NAIC) approved four jurisdictions as "Conditional Qualified Jurisdictions," meeting its year-end goal for expedited review of certain jurisdictions. The four jurisdictions are Bermuda, Germany, Switzerland and the...

Solvency II - ECIROA Raises Concerns Over Solvency II for Captives
Kimberley Cottrell,Chris Finney, December 26, 2013
The European Captive Insurance and Reinsurance Owners’ Association (ECIROA) has written to the Internal Market and Services Directorate General of the European Commission, and the European Insurance and Occupation Pensions Authority (EIOPA).

UK: Notification of ‘Circumstances’ Need Not Specify An Incident
Ajita Shah, December 20, 2013
The Court of Appeal in European Risk Insurance Company HF v Collette Ann McManus & Ors [2013] EWHC 18 (Ch), has upheld a High Court judge’s decisions to a) refuse declaratory relief and b) award the claimants 60% of the costs of the hearing, stating that the first instance judge had given...

EU: European Insurance and Occupational Pensions Authority (EIOPA) Reports on the Need for Regulatory Scrutiny of the ILS Market
Jane Elphick, December 19, 2013
In its latest report on the financial stability of the continent's insurance and pensions industry, the European Insurance and Occupational Pensions Authority (EIOPA) has expressed the need for close regulatory scrutiny of the insurance-linked securities (ILS) market to ensure it does not threaten...

An Indiana Court Allows a Bad-Faith Claim Even Though the Insurer Denied Coverage Correctly
Patrick Frye, December 18, 2013
Until last week, Indiana courts were strict in their treatment of an insurance bad-faith lawsuit. Not only must the plaintiff show ill will by the insurer, he must show that the insurer denied coverage wrongfully. E.g., Foster v. State Farm Fire & Cas. Co., no. 1:10-cv-20 (N.D. Ind. Aug. 17,...