While courts and regulators wrangle with homeowners' claims from Hurricane Katrina, another contest may be brewing down the road over storm-related reinsurance coverage, one attorney warns.
Indeed, insurers may find themselves fighting to recover on reinsurance policies where their reasons for large claims settlements are called into question, according to Vince Vitkowsky, with the New York office of Edwards Angell Palmer & Dodge.
During a webinar last week sponsored by his law firm, Mr. Vitkowsky said if insurers succumb to the “enormous social and political pressures to pay claims,” they may find reinsurers unwilling to honor contracts.
Recommended For You
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.
