Ince & Co Emergency Response +442072836999


News and Updates
Keep in touch

Sign-up to receive news alerts and updates across the range of our sectors and expertise

Substantial Reinsurance Recoveries

In the mid to late 1990s, certain practices developed in the UK, US and Bermudian Personal Accident reinsurance markets which spawned a welter of high-profile arbitrations and court cases involving many hundreds of millions of dollars.

Our first involvement was for a North American reinsurer who was the unknowing victim of an artificially created spiral in the Personal Accident LMX market which resulted in its being unexpectedly exposed to multi-million dollar losses to various different reinsureds; the pursuit of arbitration proceedings and negotiations ultimately enabled the client to close its book on very favourable terms.

We also acted for a London market company whose underwriter had been duped into accepting a reinsurance of the infamous Unicover pool's whole account; successful arbitration proceedings saved the client losses that were estimated at the time to exceed US$500 million.

We have also assisted the same underwriter over many years, and various arbitrations, in minimising its exposures in respect of a book of Scandinavian workers' compensation business, and maximising its substantial reinsurance recoveries in respect of a book of US workers' compensation business.