Disputes within our industry are hardly unusual despite contract-certainty and a whole heap of regulation. Parties often disagree about how a risk has been presented, policy interpreted or a claim adjudicated. Sometimes things can get a bit ugly, end up in court, and on occasion, businesses who were previously friends can find themselves at opposite ends of a legal wrangle. Surprising as it might seem, however, most combatants in the market kiss, make up and move-on once the quarrel is resolved; after all, it is only business.
That said, a few grudges, of course, fester on. The Insurance Insider recently reported that Ace has removed Atrium from its reinsurance security list because of earlier run-ins with the latter’s new parent Enstar; this could be such a case in point.
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