Mr. Wallis is an active arbitrator and umpire and has been appointed to over 90 panels since the early 2000s. His appointments have been made by cedents, reinsurers and retrocessionaires located in the U.S., U.K., Continental Europe, South America and Asia and over one-third represent umpire and sole arbitrator appointments. In the last 6 years over 80% of all appointments have been as Umpire or Sole Arbitrator.
His working experience has been heavily underwriting focused resulting from his long career working for London and U.S. based reinsurance companies. From 2000 through 2011 he added a strong claims component to this underwriting background as a result of his involvement with an active reinsurer in managing the run-off of both the treaty and program (direct) business of the former Chatham Re. This work involved him in a great variety of claims and accounting issues covering multiple lines of business and in the handling of the day to day management of several litigation and arbitration matters. As some of this business was sourced through GAs and MGAs additional experience has been gained in the potential pitfalls in dealing with those types of organizations.
Fewer and fewer active arbitrators have the benefit of this business-related background and coupled with his 15 year tenure as a U.S. reinsurer/insurer CEO he has had extensive exposure to all facets of the insurance and reinsurance business thus making him well qualified to hear virtually all manner of disputes. Early in 2012 he retired as a director of a U.S. insurance company but remains current with industry issues, trends and custom and practice through his work as the Executive Director of the IRUA (Intermediaries and Reinsurance Underwriters Association), a major international reinsurance industry trade association promoting professionalism and education since 1967 – see www.irua.org.
Examples of issues in dispute from current or previous appointments include:
• Asbestos & environmental aggregation (accumulation) and allocation arguments
• Accounting issues relating to policyholder & assumed and ceded recoverables
• A&H contract validity issues
• Workers comp carve-out, commutation and sunset clause issues
• Obligation of retrocessionaires under pro-rata treaties
• Recoverability of DJ expenses from reinsurers
• Claims late notice to reinsurers and cedent claims handling issues in P&C and ocean marine/energy areas
• Follow the fortunes and follow the settlements arguments
• "Event”and “occurrence” issues arising from winter weather and energy claims
• Self-insured retention calculation and applicability issues on direct insurance policies