November 02, 2018
In the midst of a five-week arbitration, we recovered, through settlement, approximately $100 million for an automobile distributor seeking insurance coverage for residual value losses on a large portfolio of leased vehicles. In the course of the dispute, we secured rulings that our client could pursue its claims directly against the reinsurers, bypassing its own captive insurer, and that our client was not bound by an unfavorable arbitration clause in the captive insurance contract because the clause did not apply to the reinsurers.