Synopsis: Nathaniel Turner analyses and considers the advantages of arbitration versus commercial litigation. With the official start of the 2006 hurricane season upon us, it may come as a surprise that many re/insurance companies are still grappling with the lingering efforts of Hurricanes Katrina and Rita, which dominated the previous calendar year. Over the past several months, Bermuda-based re/insurers have been faced with an estimated $5 billion of estimated $40 billion in total claims arising from Katrina. Inevitably, this has resulted in a decrease in the capacity of existing re/insurers to write new lines of business.
Authors: Nathaniel Turner
Published: Bermuda Reinsurance June 2006
Article: Bermuda Reinsurance Ready or Not