Crowell & Moring's reinsurance practice consists of more than a dozen attorneys across the United States and the UK who devote their practice to counseling and arbitrating/litigating reinsurance matters. Our reinsurance attorneys have experience in virtually every area of reinsurance law, and represent cedents, reinsurers, and intermediaries in both arbitration and litigation, while regularly counseling these entities on reinsurance and insurance business matters.
Avoiding Disputes: Our Counseling Expertise
Crowell & Moring's reinsurance lawyers understand that today's economic climate demands a different approach to disputes. Commercial solutions, as opposed to litigation, are often preferred and often make economic sense. We partner with our clients to make sure that reasonable and appropriate business options are explored and exhausted before resorting to litigation. We regularly counsel reinsurers and cedents on issues involving, among other things, their rights and obligations under both reinsurance treaties and facultative certificates. This counseling practice involves a variety of business issues and strategies, such as
- evaluating complex contracts, reinsurance programs and potential liabilities, settlements, policy buy-backs and work-outs, and commutations,
- developing reinsurance programs, and
- negotiating and drafting reinsurance agreements, underwriting management and claim administration agreements, commutation agreements, deeds of trust, escrow arrangements and other security devices.
In particular, we represent many companies in run-off, helping them design programs to commute or otherwise minimize exposure on the assumed side while protecting reinsurance and retrocessional recoverables. Our attorneys also provide advice to insurance and reinsurance companies on issues ranging from compliance with US economic sanctions to government investigations of finite risk products. As our Financial Lines/Directors & Officers/Management Liability practice represents reinsurers as well as insurers, our reinsurance capabilities are fluid among industries, offices, and countries.
Dispute Resolution: Our Proven Track Record
Often, disputes are unavoidable. When that happens, you want Crowell & Moring's creativity, experience, depth and expertise on your side. Our reinsurance attorneys have collectively handled hundreds of reinsurance litigations, arbitrations and mediations, both domestic and international, including London and Bermuda arbitrations. As a result, our team members have handled virtually every procedural and substantive issue that arises in reinsurance disputes involving many types of underlying business, including variable annuities, workers' compensation, asbestos, environmental, disability income, accident and health, and construction defect claims.
We get the job done. In 2009, our reinsurance practice managed a perfect record, winning every one of its arbitrations that went to hearing, including:
- 100% recovery of several million dollars for our client under reinsurance issued to our client, as well as a prospective order requiring the reinsurer to pay our client 100% of all future amounts;
- An award in excess of $18 million to our reinsurer client and dismissal of the opposing party's multi-million dollar counterclaim;
- 100% recovery, including pre-judgment interest on long overdue balances, for a cedent in connection with a reinsurer's refusal to pay declaratory judgment expenses in the absence of a loss payment; and
- Successful representation of a cedent in connection with a reinsurer's multi-million dollar rescission claim.
Examples of our recent reinsurance representations include: property & casualty; life, accident & health; insolvency; and international matters.
For more information on Crowell & Moring's Reinsurance Practice, please contact William C. O'Neill, who heads the Reinsurance Practice, or Jennifer R. Devery, Deirdre G. Johnson, Michelle Jones, or Ellen M. Farrell in Washington, D.C. at (202) 624-2500, Harry P. Cohen or Michael K. Robles in New York at (212) 803-4000, or Nilam Sharma in London at +44.207.413.1011.