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.
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Compelling Arbitration After Assignment
Reinsurance disputes sometimes become complicated when the original parties to the reinsurance contract are no longer involved. Enforcing arbitration rights also becomes more complicated when contracts are assigned or where a receiver is involved. Who has the right to compel arbitration and was the arbitration demand properly served are questions that arise. In a recent case, a New York State motion court addressed some of these issues.
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