Commentary on insurance and reinsurance disputes and related issues and the website of Schiffer Law & Consulting PLLC
A retrocessionaire is two steps away from the policy issuing company and the insured so it is a pretty rare day when a retrocessionaire is allowed to pursue a recovery against a law firm that defended an underlying personal injury claim that went south.
Continue reading “Retrocessionaire Given the Green Light to Pursue Equitable Subrogation Claim Against Law Firm”
As we have said before, it is hard for a policyholder to make a case against its insurer’s reinsurer. That proved to be true again in the Third Circuit.
Continue reading “Third Circuit Affirms Dismissal of Insured’s Claims Against Reinsurer”
To sustain a claim against reinsurers there has to be a contractual relationship between the party making the claim and the reinsurers. That is the prevailing rule in all jurisdictions, subject to rare exceptions. Nevertheless, policyholders, when left without a recovery from their insurer, will try to make out a claim directly against their insurer’s reinsurers. Typically, this effort meets with little success as we described in a blog post back in 2020.
Earlier this year, in a complicated credit insurance/reinsurance transaction involving a special purpose vehicle, a policyholder left without an insurance recovery tried again to recover its loss from its insurer’s reinsurers. The result was the same.
Continue reading “Without a Contractual Relationship, Claims Against Reinsurers Fail”
