Marc J. Goldstein Arbitrator & Mediator NYC

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December 24, 2008

US Appeals Court Upholds Reinsurance Arbitration Clause

The U.S. Court of Appeals for the Fifth Circuit has upheld the arbitration clause in a reinsurance contract between Certain Underwriters at Lloyd’s and a Louisiana-based self-insurance fund. The Court rejected a contention by the Louisiana fund that a 1945 federal statute that commits insurance regulation to state law, permits a state to deny enforcement of arbitration clauses in insurance contracts.  Safety National Casualty Corp. v. Certain Underwriters at Lloyd’s, London, 2008 U.S. App. LEXIS 20917 (5th Cir. Sept. 29, 2008).  The decision represents an important victory for foreign and offshore reinsurance firms, who regularly seek to arbitrate disputes with…
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