Expert Witness Testimony on Captive Reinsurance
One of our partners served as expert witness on California insurance law on behalf of Camarin Ltd., a captive reinsurer for Weyerhaeuser. Camarin paid $25 million in connection with a class action settlement and sought reimbursement from its reinsurer, Swiss Re. Swiss Re denied coverage, resulting in coverage litigation in British Columbia. The case involved novel issues of proving a reinsurance claim for a matter resolved by settlement where the reinsurance policy does not have a “follow the settlements” clause. The British Columbia courts held that Camarin was required to present a full trial of the class action as if it had not settled, but had gone to trial in 2003. The matter settled on favorable terms shortly after Camarin presented the expert reports constituting its case in chief.