Arbitration – global insurers’ last line of defence against jurisdiction in the United States
In two recent cases, US courts have asserted jurisdiction over non-US based insurers in coverage disputes relating to global insurance policies governed by foreign law and concluded with non-US based parent companies. At the same time, in a strong endorsement of international arbitration, the courts refused to assert jurisdiction in relation to global policies which provided for the resolution of disputes through international arbitration outside of the United States. Global insurers may, therefore, no longer be left with any other choice than to include arbitration as the means of dispute resolution in their global insurance policies in order to avoid the risk and additional cost of coverage litigation in the United States.
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