ALIC Regional Roundtable September 24 2019 Is Arbitration

ALIC Regional Roundtable September 24, 2019 Is Arbitration Still the Preferred Forum for Life Reinsurance Disputes? Suman Chakraborty, Partner, Squire Patton Boggs (US) LLP Thomas M. Zurek, Of Counsel, Schiff Hardin and CEO, Sargasso Mutual

Eight Factors squirepattonboggs. com 1

Arbitrator Expertise “There will be three arbitrators who will be current or former officers of life insurance or life reinsurance companies other than the parties to this Agreement, their affiliates or subsidiaries. ” squirepattonboggs. com 2

Business Minded Outcomes “It is the intention of the Reinsurer and the Company that the customs and practices of the life insurance and reinsurance industry will be given full effect in the operation and interpretation of this Agreement. ” squirepattonboggs. com 3

Simplified Procedures “As soon as possible, the arbitrators will establish arbitration procedures as warranted by the facts and issues of the particular case” squirepattonboggs. com 4

Speed “The arbitrators will render their award within 60 days of the appointment of the Umpire. ” squirepattonboggs. com 5

Cost/Discovery “The arbitrators shall operate in a fair but cost efficient manner. For example, the arbitrators are not bound by technical rules of evidence and may limit the use of depositions and discovery. ” squirepattonboggs. com 6

Finality “The decision will be final and binding on both parties and there will be no appeal from the decision. ” squirepattonboggs. com 7

Wrap-Up “The Verdict” squirepattonboggs. com 8