Bermuda Form insurance policies are usually sold to U.S. insureds by insurers located in Bermuda, and Bermuda Form insurers often provide high-level excess insurance or otherwise provide capacity to larger or more complicated risks. Arbitrations under a Bermuda Form are ad hoc arbitrations (not subject to the rules of an arbitral institution) and are confidential, meaning there is little express guidance on how the arbitration should be run or to help counsel prepare for and initiate this type of case.
In their Thomson Reuters Practical Law guide “Commencing a Bermuda Form Arbitration: Overview,” Partner Peter Halprin and Managing Associate Stephen Wah identify steps to consider when initiating the ad hoc arbitration contemplated in the arbitration clause usually included in this specialized insurance policy form.
Read the full guide here.
Halprin and Wah also prepared a sample standard document for ad hoc arbitration according to the norms of the Bermuda Form. This sample document contains integrated notes with important explanations and tips for drafting the demand for (or notice of) arbitration. Click here.