Chadbourne has “the ability to handle any issue due to expertise in British, Bermudian and American law.” – Chambers USA
Chadbourne’s insurance and reinsurance group consists of approximately 40 lawyers worldwide (in London, Los Angeles, New York and Washington, DC). We have successfully addressed our clients’ varying needs for more than four decades. We work in collaboration with specialists from the firm’s other practice areas, including tax, general corporate, private equity/hedge funds, intellectual property and financial restructuring. Our understanding of the property/casualty and the life, annuity and health businesses, and the breadth of our experience, is unsurpassed. Three mainstays of our practice are:
- Dispute resolution, whether through negotiation, mediation, arbitration or litigation. Chadbourne is a recognized leader in handling reinsurance litigations and arbitrations in the United States, England and internationally. Our US-based lawyers have achieved numerous victories for our clients in an array of controversies, ranging from rescission and fraud claims to adequacy of risk transfer, from interpretation of contract language to reformation of contracts, from issues relating to allocation and aggregation and to issues unique to captives and risk retention groups. Our London team likewise has an excellent track record handling high-value and high-profile reinsurance disputes. Our direct insurance team consists of market leaders in the fields of financial institutions and commercial crime insurance, with a strong reputation in handling disputes arising under hospital professional liability, professional indemnity and directors' and officers’ policies.
- Coverage analyses, in both the direct and reinsurance context, across a broad spectrum of lines, including directors and officers, errors and omissions, professional liability, commercial crime, environmental, hospital professional liability, general liability, workers compensation, employment practices liability, cyber liability, and life, annuity and health; we are adept at fashioning innovative solutions to coverage issues, which hopefully eliminate possible coverage disputes.
- Transactional and regulatory, assisting our clients with structuring and implementing sophisticated financial arrangements, cell structures, sidecars and reinsurance assumption/novation agreements. We have represented companies, as well as trade associations and individuals, that were targets of investigations by insurance regulatory authorities and prosecutors, and have regularly appeared before state insurance officials with respect to proposed regulations, disciplinary proceedings, and rate and policy form filings.
Starr Indemnity & Liability Company v. American Claims Management, Inc.
A Chadbourne litigation team secured a complete trial victory on behalf of Starr Indemnity & Liability Company in a lawsuit Starr brought against American Claims Management (ACM), a subsidiary of Brown & Brown Insurance. In addition to awarding all of the sums sought against ACM and its affiliates, a jury in the Southern District of New York also rejected all of the defendants' counterclaims against Starr.
Scandinavian Reinsurance Co. v. St. Paul Reinsurance Co.
Chadbourne represented St. Paul Reinsurance Company (St. Paul) in an arbitration in which the company sought to recover unpaid losses from Scandinavian Reinsurance Company (SRe) under a retrocessional casualty aggregate stop loss agreement. The tripartite arbitration panel rendered an award in favor of St. Paul; the award had a value exceeding US$275 million. SRe later learned that two of the three arbitrators not disclosed their concurrent service as arbitrators in a separate arbitration, and sought to have the award vacated before the United States District Court for the Southern District of New York. The district court vacated the award, but on appeal, the Second Circuit ruled that the failure of the two arbitrators "to disclose their simultaneous service as arbitrators in another proceeding" did not manifest bias and did not require vacatur of the arbitral award, even where the second (undisclosed) proceeding involved "a common witness, similar legal issues, and a related party." The Second Circuit also rejected the district court's finding that the arbitrators' nondisclosure was indicative of "evident partiality," and remanded the matter to the district court with instructions to confirm the award.
R&Q Reinsurance Company v. Utica Mutual Insurance Company
Chadbourne represented R&Q Reinsurance Company in an arbitration commenced by Utica Mutual Insurance Company (Utica) under certain facultative reinsurance agreements. Utica sought reimbursement of sums paid by it to Gould Pumps Inc. for asbestos claims. Following an evidentiary hearing, an arbitration panel issued an award denying significant portions of Utica’s claim. The United States District Court for the Southern District of New York confirmed the award in an opinion dated February 14, 2014. Utica had resisted confirmation of the award, which Utica had earlier (unsuccessfully) asked the panel to reconsider, arguing that the award was not final.
First Reinsurance Sidecar Capitalized Post-Katrina
Our lawyers assisted in the first reinsurance sidecar capitalized post-Katrina, and with recent innovations in "hybrid" sidecars and the use of segregated cells.
First Catastrophe Bond Protecting Workers' Compensation Fund Against Earthquake Risks
Our lawyers advised on the first cat bond protecting a workers' compensation fund against earthquake risks.
"Hybrid" Reinsurance Sidecar
Chadbourne advised BlackRock regarding risk-transfer mechanism for ABR Re venture with ACE Limited. ABR Re included exposure to a diversified mix of reinsurance risks, third-party capital, and asset management by BlackRock.
Joy Langford is chair of Chadbourne's Insurance and Reinsurance Group. She concentrates her practice on litigations and arbitrations on behalf of both ceding and assuming reinsurance companies. Ms. Langford has been involved in dozens of arbitrations and litigations involving current issues in...