Fortune 100 company successfully concludes international insurance coverage arbitration against Bermuda-based insurer
Clients Fortune 100 company
Jones Day represented a Fortune 100 company in an international arbitration conducted pursuant to the Bermuda Arbitration Act for coverage relating to a nearly $200 million securities class action lawsuit. This arbitration was part of a series of arbitrations and litigations arising under separate dispute resolution provisions in a tower of Directors and Officers insurance. This Bermuda-seat arbitration, conducted over the course of three weeks in London, England (an arbitral location of convenience), was bifurcated into two parts. The first part involved a claim of policy reformation and a prior and pending litigation exclusion. The second part was to have involved the reasonableness of the underlying settlement. Following a full hearing and preparation of the arbitrator's partial award respecting the first part of the arbitration, the matter settled.
Fortune 100 company vs. a Bermuda-based insurer