Reinsurance is an arcane and sophisticated practice area in which the skill and experience of the attorney can increase the likelihood of a desirable outcome. Loree & Loree offers skilled, hands-on, representation in reinsurance and reinsurance-related matters, albeit on what we believe is a more cost-effective basis than large firms typically offer.
Mr. Loree Jr. is principally responsible for the firm’s reinsurance practice. He has represented cedents and reinsurers alike, large and small, domestic and international, actively writing and in runoff. He has represented companies in arbitration and in trial court and appellate proceedings, and, as detailed further in his CV, has represented clients in contentious and non-contentious matters -- including high-profile matters -- which collectively have encompassed nearly every significant reinsurance-related issue. Mr. Loree Sr. provides substantial support to the reinsurance practice, lending his keen analytical skills, exceptional writing and advocacy skills, arbitration experience, and the wisdom borne of years of representing the equally arcane and specialized U.S. maritime industry.
An effective reinsurance lawyer must not only understand the law, but must also understand the business aspects pertinent to the matter, and must have a sense for how particular arbitrators are likely to view its merits. This skill and knowledge cannot be learned simply by reading books and studying the case law.
Mr. Loree Jr. has had the privilege of working for many years as an associate and partner in what was one of the top reinsurance practice groups in the country, one that obtained that reputation not only because its lawyers were highly-skilled, but also because they understood the reinsurance business. He likewise has had the privilege of working closely with, and learning from, a number of sophisticated domestic and international clients.
Reinsurance litigation and arbitration
The principal focus of our reinsurance practice is reinsurance litigation and arbitration. We offer representation in reinsurance and reinsurance-related litigations and arbitrations to reinsurers and cedents and brokers, managing general agents, third-party administrators, independent auditors and other third-party service providers. We can handle a wide variety of reinsurance and reinsurance-related matters, including life reinsurance matters, and matters involving complex technical issues. We are experienced with not only the domestic market, but also matters involving the London and other international markets. We can represent clients in runoff as well as actively writing clients.
Advice and Counsel on Reinsurance-Related Matters
In addition to representing clients in reinsurance arbitrations and litigations, we also offer advice and counsel on reinsurance-related issues arising out of contentious and non-contentious matters. We believe that investing legal fees in an effort to avoid expensive, potentially unnecessary, and often unpredictable arbitration or litigation can pay dividends in the form of reduced, long-term costs.
Hiring experienced reinsurance counsel before a dispute or potential dispute ripens into a full-blown, adversarial proceeding is usually a better strategy than waiting until you or one of the other parties demands arbitration or files suit (or has no choice but to do so). In some cases, the need for an adversarial proceeding can be avoided entirely; in others, counsel can help the client avoid missteps that may prejudice them in later proceedings. Counsel’s involvement earlier in the process may increase the likelihood of an early settlement, or at least narrow the scope of issues that must be submitted to an arbitration panel or court.
We can identify and provide advice on the key issues raised; help you evaluate the upsides and downsides of arbitration or litigation; assist you in evaluating the odds of a favorable outcome; explore alternative forms of dispute resolution, including mediation; and help you devise a comprehensive strategy for going forward. We can assist with your communications with the other party or parties; represent you in settlement or commutation negotiations and in mediation; and otherwise work with you to seek a cost-effective and favorable resolution of the matter. In the event that proceedings must go forward, we can represent you in those proceedings.
Just as seeking advice on specific, reinsurance-related disputes can reduce long-term costs, so too can seeking advice on global, reinsurance-related problems challenging the company, even where those problems have not yet ripened into disputes. Reinsurance-related problems that are not addressed effectively (or at all) at the outset may later evolve (or devolve) into costly arbitrations or litigations. Not addressing them in a timely and effective manner may even prejudice the company’s legal rights in those later proceedings.
Loree & Loree offers legal advice and counsel concerning general reinsurance-related matters, including, issues arising out of:
- Ceded and assumed claims-handling;
- Commutations and settlements;
- Runoff management and dealing with companies in runoff;
- Insolvencies and dealing with insolvent cedents and reinsurers;
- Regulatory compliance; and
- Corporate transactions.
If you are interested in learning more about our reinsurance practice, please contact Philip J. Loree Jr. (PJL1@LoreeLawFirm.com or (516) 627-1720).