May 22, 2012

CALIFORNIA REGULATORS CLAIM THAT AIG OWES OVER 500 MILLION DOLLARS TO ITS REINSURER

Daniel W. Gerber
Jeffrey L. Kingsley
Thomas F. Segalla
Goldberg Segalla LLP
Sunday, April 11, 2010
Contracts / UCC / Insurance Reinsurance & Surety
California
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For more information click here: http://tinyurl.com/rr-02-10-article-7

 

In a recent statement, California’s Insurance Commissioner declared that AIG owes its reinsurers over 500 million dollars in light of the Ninth Circuit ruling where it confirmed the reinsurers’ position that AGI did not disclose important information needed to provide a reasonable basis to set reserves for claim payments that involved workers’ compensation. Given that many of the insurers went bankrupt, it is expected that California might receive some of the proceeds to offset its involvement in the payment of claims

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About the Author

Daniel W. Gerber

Listed in Business First's Who's Who in Law, named to New York Super Lawyers, and AV rated by Martindale Hubbell, Daniel W Gerber is a partner of the firm and maintains a national practice in commercial litigation with a focus on complex insurance coverage disputes and analysis. He chairs Goldberg Segalla's Life, Health, Disability and ERISA practice group and co-chairs the firm's Global Insurance Services practice group. Mr. Gerber is admitted to the United States Supreme Court, as well as all Federal and State courts in New York. He argues regularly in...

dgerber@goldbergsegalla.com
716-566-5425
www.goldbergsegalla.com
Jeffrey L. Kingsley

Jeffrey L. Kingsley is a partner and experienced member of Goldberg Segalla LLP's Global Insurance Services Practice Group.  He maintains an international practice with a focus on complex insurance and reinsurance coverage disputes as well as extra-contractual liability arbitration and litigation.  He has written several articles on recent reinsurance trends including the rise of original policyholder and the expanding power of arbitrators under the Federal Arbitration Act.  He is the co-editor of Goldberg Segalla's Reinsurance Review,...

jkingsley@goldbergsegalla.com
716-566-5434
www.goldbergsegalla.com

Contributors

Thomas F. Segalla

Thomas F. Segalla, is the co-author of the renowned insurance law treatise Couch on Insurance 3d and is one of the founding partners of the firm.  Mr. Segalla is a nationally recognized reinsurance and insurance expert who has been retained by numerous insurance carriers and policyholders.  His active practice focuses on the defense and insurance coverage aspects of matters involving bad faith; construction site personal injury accidents (Labor Law §§ 200, 240(1) and 241(6)); and toxic tort and environmental issues. As a member of the...

tsegalla@goldbergsegalla.com
716-566-5480
www.goldbergsegalla.com

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