Arch Specialty Insurance - Sub-Prime Auto Loan Coverage Dispute
Representation of Arch Specialty Insurance Company in a dispute with a former general agent over the agent's handling of a financial product. The product provided limited insurance coverage for banks and credit unions extending sub-prime automobile loans throughout the United States. Questions arose over the placement of certain coverage, the terms of the coverage and the actions of the agent which required Arch to take positions it would not otherwise have taken. Arch sought compensation from the agent, which we achieved during a week-long arbitral hearing in Virginia.