TITLE

Payout bouts

AUTHOR(S)
McKenna, Ian; Vishneski, John
PUB. DATE
April 2005
SOURCE
Lawyer;4/18/2005, Vol. 19 Issue 15, p20
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reveals that jurisdictional choice has become a key battleground in reinsurance conflicts. When one considers some of the cases in the reinsurance sector in early 2005 on both sides of the Atlantic, two key issues emerge: first, the need for contractual certainty; and second, uncertainty as to the proper forum and jurisdiction for disputes. Last year, the Commercial Court addressed whether primary insurers were liable to indemnify Exxon for oil pollution clean-up costs following the Exxon Valdez spill in March 1989. Primary insurers settled Exxon's claim for $780m without seeking reinsurers' consent.
ACCESSION #
16850158

 

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