Background

As a result of a pipeline accident in Ohio, an insurance company was called upon to pay a claim to the owner. It then sought to access reinsurance in the sum of $1.2 million but the reinsurer balked.

The Challenge

We were retained by the insurance company to resolve the issues with the reinsurer. The reinsurer was adamant and the intermediary was implicated on the ceded risk.

The Solution

We simultaneously brought a lawsuit against the reinsurer and the broker in the United States District Court for the Southern District of New York and relied upon standard reinsurance procedure to commence an arbitration.

Result

We recovered $1.2 million in the arbitration and had that award confirmed by the District Court. The reinsurer paid.