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Reinsurance Arbitration: A Discussion of Neutral Panels and Reasoned Awards
Traditionally, arbitration panels in the reinsurance industry have been tripartite panels with each party choosing its own arbitrator and the party-appointed arbitrators choosing a neutral umpire. Courts have recognized that party-appointed arbitrators may be advocates for the appointing party. Sphere Drake Ltd. v. All Am. Life Ins. Co., 307 F.3d 617, 620 (7th Cir. 2002). (“In the main party appointed arbitrators are supposed to be advocates.”) While the industry has become accustomed to the system of advocate arbitrators and there are those who champion this system, there has been a growing consensus that neutral panels may be preferable to advocate arbitrators.
Another tradition in reinsurance arbitration has been the practice of issuing awards that are not reasoned. This practice has come into question.
Thus, the time has come to talk of neutral panels and reasoned awards. With recent changes in the ABA-AAA Code of Ethics and keen interest in the broader arbitration community concerning the issues of neutral panels and reasoned awards, all participants in the insurance and reinsurance arbitral process ' arbitrators, counsel and parties ' should consider the advantages and disadvantages of neutral arbitration panels and reasoned awards.
Major Differences In UK, U.S. Copyright Laws
This article highlights how copyright law in the United Kingdom differs from U.S. copyright law, and points out differences that may be crucial to entertainment and media businesses familiar with U.S law that are interested in operating in the United Kingdom or under UK law. The article also briefly addresses contrasts in UK and U.S. trademark law.
The Article 8 Opt In
The Article 8 opt-in election adds an additional layer of complexity to the already labyrinthine rules governing perfection of security interests under the UCC. A lender that is unaware of the nuances created by the opt in (may find its security interest vulnerable to being primed by another party that has taken steps to perfect in a superior manner under the circumstances.
Strategy vs. Tactics: Two Sides of a Difficult Coin
With each successive large-scale cyber attack, it is slowly becoming clear that ransomware attacks are targeting the critical infrastructure of the most powerful country on the planet. Understanding the strategy, and tactics of our opponents, as well as the strategy and the tactics we implement as a response are vital to victory.
The Stranger to the Deed Rule
In 1987, a unanimous Court of Appeals reaffirmed the vitality of the "stranger to the deed" rule, which holds that if a grantor executes a deed to a grantee purporting to create an easement in a third party, the easement is invalid. Daniello v. Wagner, decided by the Second Department on November 29th, makes it clear that not all grantors (or their lawyers) have received the Court of Appeals' message, suggesting that the rule needs re-examination.
Legal Possession: What Does It Mean?
Possession of real property is a matter of physical fact. Having the right or legal entitlement to possession is not "possession," possession is "the fact of having or holding property in one's power." That power means having physical dominion and control over the property.