While courts and regulators wrangle with homeowners' claims from Hurricane Katrina, another contest may be brewing over carriers' storm-related reinsurance coverage, according to an attorney.
Vince Vitkowsky, an attorney with the New York office of Edwards Angell Palmer & Dodge, said insurers may find themselves fighting to recover on reinsurance policies where their reasons for large claims settlements are called into question.
During a Web seminar today sponsored by his law firm, Mr. Vitkowsky pointed out that insurers are faced with enormous pressures, and if they succumb to the "enormous social and political pressures to pay claims," they may find reinsurers unwilling to honor the contracts.
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