Second Circuit Says Cedent Cannot Use the “Follow-the-Settlements” Doctrine to Circumvent Plain, Unambiguous Policy Provision

Second Circuit Says Cedent Cannot Use the “Follow-the-Settlements” Doctrine to Circumvent Plain, Unambiguous Policy Provision

By: Michael S. Olsan and Zachery B. Roth In Utica Mutual Insurance Company v. Fireman’s Fund Insurance Company, the U.S. Court of Appeals for the Second Circuit, reversing a jury verdict in the District Court, held that the “follow-the-settlements” doctrine does not bind a reinsurer to settlement decisions that are inconsistent with the plain, unambiguous…

No (Social) Distance for Reinsurers? If Lawmakers Force Insurers to Pay COVID-19 Claims, Will Reinsurers Follow?

No (Social) Distance for Reinsurers? If Lawmakers Force Insurers to Pay COVID-19 Claims, Will Reinsurers Follow?

By: Daryn E. Rush, Justin K. Fortescue and Ciaran B. Way As legislators in New Jersey debate a new law that would force insurers to pay COVID-19-related claims that are excluded under the plain language of their new law, insurers are left to contemplate a number of critical questions regarding their ability to recover from…