Reinsurance is a multi-billion dollar international industry in which significant complex legal and business issues arise.
Program Agenda:
1) Nature and purpose of reinsurance
a. Participants
b. Reasons for buying reinsurance
2) Forms of Reinsurance
a. Treaty vs. Facultative
b. Proportional vs. Excess of Loss (Non-Proportional)
3) Fundamental Business and Legal Concepts
a. Duty of Utmost Good Faith In Underwriting and Contract Performance
b. Follow the Fortunes/Follow the Settlements
c. Reinsurer's Access to Reinsured's Records
4) Recurring Legal Issues
a. Aggregation
b. Ex Gratia payments
c. Allocation
d. Proper Claim Handling
e. Proper Underwriting
5) Dispute Resolution
a. Litigation vs. Arbitration
b. Nature of Reinsurance Arbitration
Key Learning Objectives:
1) Nature and purpose of reinsurance
2) Principal forms of reinsurance
3) Nature of the reinsurance relationship
4) Fundamental legal and business concepts
5) Reinsurance dispute resolution
Speaker Biographies:
Michael H. Goldstein has thirty years of experience in reinsurance and insurance coverage disputes, including more than forty arbitration hearings to award, trials, and appeals throughout the United States representing insurers, cedants, and reinsurers. These disputes have included asbestos bodily injury and property damage claims, environmental claims, bail bond claims, accident, life, health, and workers compensation claims, accountants' and broker's malpractice claims, directors and officers claims, finite risk reinsurance, bankruptcy and insolvency issues, film financing, and entertainment risks. In litigating in state and federal trial and appellate courts, Mr. Goldstein has represented parties in a number of matters where the courts issued landmark decisions on various reinsurance issues.
Mr. Goldstein is admitted to practice in New York, several federal district courts, and United States Courts of Appeals for the Second, Third, Seventh, Eighth, and Ninth Circuits. He also has lectured and served as chairperson at Mealey's conferences, at RAA conferences and seminars, at the College of Insurance, at the Defense Research Institute, and the American Conference Institute on insurance and reinsurance law topics. Mr. Goldstein has authored several commentaries in Mealey's Litigation Reports: Reinsurance, an article in Best's Review on reinsurance treatment of asbestos bodily injury claim settlements, co-authored an article in ReActions on reinsurance arbitration and was a regular contributor to the Journal of Insurance Coverage in 2002. He has also collaborated with Guy Carpenter in authoring a Guy Carpenter Claims Consulting White Paper regarding Reinsurance Coverage of Declaratory Judgment Expenses.
Mr. Goldstein is a graduate of Columbia College and Fordham University Law School.
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Robert E. Wilder has thirty years of experience litigating and arbitrating complex reinsurance, insurance, and general commercial matters. His practice focuses on domestic and international reinsurance disputes involving traditional reinsurance, finite reinsurance, captive arrangements, insurer insolvencies, pools and managing general agencies. Mr. Wilder has litigated and arbitrated reinsurance coverage issues arising from a variety of underlying claims, including asbestos, environmental pollution, clergy sex abuse, silica, worker's compensation, personal accident, permanent disability and bail bonds. These proceedings have involved issues such as allocation, aggregation, negligent supervision, deficient underwriting, follow the settlements, annualization of limits, setoff, late notice, misrepresentation and spirals. Mr. Wilder regularly appears before arbitration panels and courts throughout the United States. He also counsels clients on a wide variety of reinsurance issues. He lectures frequently and has published articles on reinsurance and related topics. Mr. Wilder is a Board Member of Harris Martin's Reinsurance Report and co-editor of the firm's newsletter Reinsurance Law Update.
Mr. Wilder is a graduate of Binghamton University and New York Law School (magna cum laude). Prior to joining the firm, he practiced law at Healy & Baillie, Morgan Lewis & Bockius, and Lord Day & Lord, Barrett Smith. Mr. Wilder is admitted to the New York bar and is a member of the American Bar Association.
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