Second Circuit rules Lloyd’s surplus lines arbitration clause trumps Louisiana insurance law
The case stemmed from disputes over insurance coverage for two commercial properties in Louisiana that were damaged during Hurricane Ida in August 2021. After the storm, the properties were sold to new owners – 3131 Veterans Blvd LLC and Mpire Properties LLC – who took over the rights under the existing insurance policies. The policies, issued by a group of surplus lines insurers including Lloyd’s of London, Indian Harbor Insurance, and QBE Specialty Insurance, contained arbitration clauses requiring that any disputes be resolved in New York.
