Successful Representation for Reinsurer in Insurance Recovery Arbitration Action Against Negligent Underwriter
Represented one of the largest global reinsurers in a private arbitration action before the American Arbitration Association in claims for negligent underwriting against a Washington-based underwriter. The underwriter had underwritten and caused three successive $500,000 straight line limit commercial general liability policies to be issued to a construction company the underwriter had classified as a “handyman.” It was discovered the insured was converting three apartment complexes into condominiums, negligently installed exterior insulation finishing systems, and policy limits were paid out on all three policies. After arbitration was commenced, summary judgment was filed on behalf of the reinsurer and judgment was thereafter issued in favor of the reinsurer resulting in a seven-figure award and settlement.
