Article
| February 14, 2012
What Time Is It? Determining the Statute of Limitations in Reinsurance Disputes
The well-respected United States Court of Appeals for the Second Circuit, which sits in New York City, once posed what it called a "deceptively simple question": "when does a cause of action for indemnity promised in a reinsurance policy accrue?" Continental Cas. Co. v. Stronghold Ins. Co., 77 F.3d 16 (2d Cir. 1996). Stated another way: how much time does a ceding insurer have to bring a legal claim against a reinsurer that has not paid what the ceding insurer says is due under a contract of reinsurance? Because of the nature of reinsurance, this question is not so simple to answer.
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