In the ever-evolving landscape of dispute resolution, AIRROC continuously seeks innovative methods to address conflicts efficiently and effectively. Among these approaches, early case evaluations conducted by seasoned industry professionals who have transitioned into the role of arbitrators’ may be a particularly promising addition to its member services. This approach not only … [Read more...] about Dispute Resolution Tool: Early Case Evaluations with Industry Professionals Turned Arbitrators
Legal
The Role of Apology in Negotiations
Negotiation Strategies: Tips for Establishing Connection and Optimizing Results Series: Part 8 In negotiations - whether in business deals, labor disputes, or diplomatic talks - language is currency. Words can bridge gaps or widen chasms. Among these words, a few stand out for their emotional weight and strategic complexity: “I’m sorry,” “I apologize.” Despite its simplicity, … [Read more...] about The Role of Apology in Negotiations
New York insurance law adds parametric insurance as covered insurance
Insurers who issue policies covering catastrophic weather-related events should take note of New York Assembly Bill 10344. As of January 12, 2025, insurers have the ability to incorporate parametric insurance into their insurance products as a regulated area of insurance law. New York’s legislation is the most recent example of how states are recognizing parametric insurance … [Read more...] about New York insurance law adds parametric insurance as covered insurance
Bankruptcies and the Runoff Market – Impacts and Implications
Shelly DeRousse and Kathleen Ehrhart, both Partners at Smith Gambrell Russell, along with Geoffrey Goodman a Partner at Foley & Lardner led the discussion on bankruptcy and the runoff market at the 2025 Spring Membership Meeting. The session focused on the increasing number of mass-tort bankruptcies and the involvement of insurance and reinsurance companies, with an … [Read more...] about Bankruptcies and the Runoff Market – Impacts and Implications
Additions to the DRP: The Neutral Panel Process
For years, arbitrators have discussed the benefits of neutral panels. Simply put, the concept is not new. A “few” years ago [enough said about the passage of time], Caleb Fowler, Bob Hall and Larry Monin outlined these benefits and offered themselves as a “pre-set” panel, as stated in their article, All-Neutral Arbitration Panels, XV Mealey's Reins. Rpt. No. 24 at 23 (April 28, … [Read more...] about Additions to the DRP: The Neutral Panel Process
A Brief Review of Reinsurance Trends in 2024
In 2024, the United States Supreme Court answered the question of whether a case should be stayed or dismissed if arbitration is compelled. Courts also continued to enforce arbitration rights and compel arbitration and addressed discovery of reinsurance information issues, questions of sealing of reinsurance information, jurisdiction, and a rare late notice … [Read more...] about A Brief Review of Reinsurance Trends in 2024
Diamond’s Negotiation Tactics Sparkle
Stuart Diamond’s Getting More: How to Negotiate to Achieve Your Goals in the Real World Negotiation Strategies: Tips for Establishing Connection and Optimizing Results Series: Part 7 Books on negotiation come and go, but occasionally one introduces new, meaningful, and useful recommendations for achieving successful negotiations. Getting More is such a book. In it, Stuart … [Read more...] about Diamond’s Negotiation Tactics Sparkle
Restructuring Solutions in Focus
One of the cornerstones of AIRROC’s mission and vision is to be the leading industry educator and enhancing knowledge about the legacy market and the exit strategies and solutions they offer. In furtherance of that role, Carolyn Fahey, Executive Director of AIRROC, Al Bottalico, Insurance Specialist with Norton Rose Fulbright and James Mills, Vice President and Legal Counsel … [Read more...] about Restructuring Solutions in Focus
US NAIC Summer 2024 National Meeting Highlights
The US National Association of Insurance Commissioners (“NAIC”) held its Summer National Meeting in Chicago on August 12-15, 2024. The Risk-Focused Surveillance (E) Working Group (“RFSWG”) did not meet during the Summer National Meeting. However, a discussion of its recent work with respect to affiliate investment managers and affiliate investments, as well as regarding … [Read more...] about US NAIC Summer 2024 National Meeting Highlights
Cedent Wins Late Notice Dispute
It’s been a while since there has been a court opinion on the defense of late notice in a reinsurance dispute. Recently, a Texas federal court had the pleasure of addressing the issue. In United States Fire Insurance Co. v. Unified Life Insurance Co., No. 3:22-cv-00868-BT (N.D. Tex., Mar. 29, 2024, the cedent sought a reinsurance recovery after a class-action settlement. The … [Read more...] about Cedent Wins Late Notice Dispute
What is the Practical Effect of an Honorable Engagement Clause?
Introduction Since time out of mind, the arbitration clauses of reinsurance contracts have included language to the effect that arbitrators shall consider the contract as an honorable engagement, rather than merely a legal obligation, are relieved of all judicial formalities and may abstain from following the strict rules of law. One commentator described honorable engagement … [Read more...] about What is the Practical Effect of an Honorable Engagement Clause?
Arbitration in the Courts
Southern District of New York twice finds that, under the McCarran Ferguson Act, Louisiana statute barring arbitration of insurance disputes reverse-preempts the New York Convention: Arbitration agreements were not “forum selection clauses” exempted from Louisiana statute’s proscription on arbitrating insurance disputes. Certain Underwriters at Lloyds, London et al v. Mpire … [Read more...] about Arbitration in the Courts
Participation In Early Stages of Arbitration Dooms Petition to Stay Arbitration
When a party receives and arbitration demand and there is a dispute about whether there is an agreement to arbitrate between the parties, participating in the early stages of the arbitration may be problematic for a subsequent effort to dispute arbitrability. This issue can arise when there has been an assignment or transfer of a reinsurance agreement or the right to the … [Read more...] about Participation In Early Stages of Arbitration Dooms Petition to Stay Arbitration
NAIC Summer 2023 National Meeting Highlights
The Reinsurance (E) Task Force (“RTF”) of the US National Association of Insurance Commissioners (“NAIC”) held a virtual meeting on July 24, 2023, in lieu of meeting in person at the NAIC’s 2023 Summer National Meeting. In addition to routine matters such as adoption of the RTF’s 2023 Spring National Meeting minutes and minor revisions to RTF’s 2024 Proposed Charges, the … [Read more...] about NAIC Summer 2023 National Meeting Highlights
Beware the “Quadrigoof”: Avoiding Four Common Mistakes in Negotiations
Negotiation Strategies: Tips for Establishing Connection and Optimizing Results Series: Part 6 We all negotiate, every day. It runs the gamut from the boardroom to the bedroom and everywhere in between. People try to win over their counterpart with reasoned arguments, pithy anecdotes, or just plain emotion. Career negotiators feel they do it fairly well, making fewer … [Read more...] about Beware the “Quadrigoof”: Avoiding Four Common Mistakes in Negotiations
Arbitration in the Courts
DC district court reaches conflicting decisions whether EU high court’s landmark decision deprives US courts of jurisdiction to enforce investors’ arbitral awards against Spain. 9REN Holding SARL v. Kingdom of Spain, No. 1:19-cv-1871-TSC (D.D.C. Feb. 15, 2023); Blasket Renewable Investments LLC v. Kingdom of Spain, No. 21-3249 (RJL) (D.D.C. March 31, 2023). The Slovak … [Read more...] about Arbitration in the Courts
Cedent Prevails on Back-to-Back Reinsurance Recovery
Settlement allocations of long-tail losses like pollution claims have long been a source of disputes between cedents and reinsurers. Often the allocation of the underlying settlement depends on the allocation methodology used based on the law of the relevant jurisdiction. The issue becomes more complicated where the reinsurance contract is governed by the law of a different … [Read more...] about Cedent Prevails on Back-to-Back Reinsurance Recovery
US NAIC Update: Restructuring Mechanisms (E) Working Group
At its recent meeting on April 4, 2023, the Restructuring Mechanisms (E) Working Group (the “Working Group”) of the US National Association of Insurance Commissioners (“NAIC”) continued to advance the best practices framework it is developing for Insurance Business Transfers (“IBTs”) and Corporate Divisions (“CDs”) in the United States. An IBT is a transaction whereby a … [Read more...] about US NAIC Update: Restructuring Mechanisms (E) Working Group
Understanding and Using Body Language to Improve Negotiations
“Let Me Hear Your Body Talk…”1 Negotiation Strategies: Tips for Establishing Connection and Optimizing Results Series: Part 5 See if you recognize this scenario: you're in a meeting trying to convince the other side to take your position. But something’s not right. You don't feel comfortable. The mood in the room is guarded and tense. You really don't know why: The sun is … [Read more...] about Understanding and Using Body Language to Improve Negotiations
ESG Battlegrounds: How the States Are Shaping the Regulatory Landscape in the U.S.
When it comes to ESG in the United States, among the most dramatic developments is an ideological battle unfolding at the state level, pitting liberal-leaning state governments that have embraced ESG-focused investing against conservative-led states that would seek to exclude it. To date, the general consensus had been that the U.S. is lagging on its ESG focus, particularly … [Read more...] about ESG Battlegrounds: How the States Are Shaping the Regulatory Landscape in the U.S.
