Events

Discussion on Wasa v. Lexington Judgement

November 11, 2009

David M. Raim, Mary A. Lopatto, John F. Finnegan and the C&P Insurance Partners hosted the Discussion on Wasa v. Lexington Judgement Seminar

Date: Wednesday, November 11, 2009

Time: 3:00 - 4:30 pm

Location:  Chadbourne & Parke LLP
30 Rockefeller Plaza
(between 5th and 6th Avenues)
36th Floor
New York

Event Speaker:
Adrian Mecz, Partner, Chadbourne & Parke LLP

Topic Discussed:

US cedents beware; your exposure might not be reinsured!

When a reinsurance contract says nothing more than "as original" and looks to the terms of the insurance for its scope and meaning, the contracts are widely seen as being back-to-back. The English House of Lords (now the Supreme Court) has recently decided that back-to-back cover cannot be assumed if a foreign judgment is fundamentally at odds with English reinsurance doctrine, even a judgment of the highest court in Washington State. "What more could Lexington have done?"

This timely program covered:
Adrian Mecz, who acted for Lexington throughout the proceedings, will explain the reasoning behind the judgment, what it means and how US cedents can obtain the cover that they pay for. He will consider:

• What happens when there are different laws governing the insurance and the reinsurance, or no express choice of law
• The impact of the US Service of Suit clause
• What is fundamental English reinsurance doctrine
• Whether reinsurances can be restructured going forward