Commentary on insurance and reinsurance disputes and related issues and the website of Schiffer Law & Consulting PLLC
It is quite common to have a transaction where a company essentially takes over another company and reinsures its obligations 100%. Several years later, the acquiring reinsurer may sell the acquired ceding company as a “clean shell.” Of course, the new acquiring company that buys the shell wants the original 100% reinsurance agreement to remain in force. After 10 years or more, sometimes things go awry.
Continue reading “Ten Years After – When Old Reinsurance Obligations Fail”
Insurance and reinsurance arbitrations are often governed by the Federal Arbitration Act (“FAA”). Enforcement of arbitration rights under the FAA, however, may take place in either federal or state courts. To proceed in federal court, subject matter jurisdiction must exist. In a recent case, the United States Supreme Court addressed an open question concerning whether subject matter jurisdiction existed on competing applications to vacate and confirm an arbitration award so that the federal district court could hear the dispute.
Continue reading “Federal Jurisdiction Matters to Vacate or Confirm an Arbitration Award”
