Commentary on insurance and reinsurance disputes and related issues and the website of Schiffer Law & Consulting PLLC
Reasonableness comes up in many parts of a reinsurance contact but what exactly does it mean? My latest Expert Commentary on Reinsurance for IRMI.com delves into the term “reasonableness” in the context of reinsurance contract wording. Please enjoy.
In a recent facultative reinsurance dispute over the payment of an asbestos settlement, a New York federal court found the term “exhaustion” ambiguous and granted summary judgment to the cedent requiring the reinsurer to pay its share of an asbestos settlement.
Continue reading “Exhaustion Found Ambiguous Causing Reinsurer to Follow the Settlement”
