The agreement at issue made it clear that the arbitrators had no authority to award outside attorneys’ fees. The Court rejected petitioner’s arguments that New York law permitting the award of attorneys’ fees in exceptional cases should apply and that it was within the arbitrators’ discretion to award fees. Pay-by-phone is available to all direct-billed. The same transaction fees that apply to mailed payments are applied to each payment by phone. We believe our partnership with independent agents brings a. You can choose to pay by checking account, savings account or credit card. EMC sells its products solely through independent insurance agencies in more than 40 states. The Court vacated the award of attorney and arbitrator fees because the arbitration clause unmistakably provided that the parties had to bear the fees of their respective arbitrators and outside counsel. To make a payment by phone, call the automated toll-free number provided on your billing statement and respond to the prompts. The panel granted attorney and arbitrator fees and costs to petitioner, finding that respondent was not acting in good faith. EMC Insurance Group (NASDAQ: EMCI) provides property and casualty insurance, and reinsurance products in the United States. After a dispute arose as to respondent’s obligations under the arrangement, the parties engaged in arbitration. and related outside attorneys’ fees.” Id. The arbitration clause provided, in relevant part, that “ach party shall bear the expense of its own arbitrator. Best, EMCNL is dedicated to providing superior service and simple products that Make Life Easy. EMC National Life Company 71844.00 ICC16EAP068 (3-16) L I APP A IC EMCN-130483202 EMC National Life Company 71844.00 ICC16EAP069 (3-16) L I APP A IC. With a rating of A- (Excellent) with a stable outlook from A.M. Petitioner and respondent were parties to a coinsurance arrangement that contained a broad arbitration clause. EMC National Life (EMCNL) is a financially strong life insurance company and life affiliate of EMC Insurance Companies, an insurance enterprise that has been in business for more than 100 years. 2007), the Court held that the arbitration panel exceeded its authority when it granted petitioner attorney and arbitrator fees. Issue Decided: Whether an arbitration panel exceed its authority by granting petitioner attorney and arbitrator fees. ![]() “EMC is one of the leaders in the digital transformation of the insurance industry with a history of carefully selecting partners to enable their transformation, so we are honored they turned to AgencyKPI’s data scientists, software developers and business strategists to unlock the power of real data to balance their business relationships, make more informed decisions, and improve profitability,” said Bobby Billman, Co-Founder of AgencyKPI.ReliaStar Life Ins. With AgencyKPI, we’ll have more timely and accurate data that’s just easier to understand and share with our networks and independent agents, to help us grow and be more profitable together,” said Mick Lovell, Executive Vice President of Operations at EMC Insurance. “We are very happy to be working with AgencyKPI on a platform that is sure to benefit independent agents and how EMC aligns with them. Working closely with AgencyKPI’s development team, EMC’s executive team and IT professionals are establishing new data standards in order to compile all the data produced by disparate systems and organize it into insightful reports.Īs a result, EMC is not only better managing its data, but also unlocking the knowledge within it to help its network and independent agency partners better plan and track their performance. As one of the top insurance organizations in the country based on net written premium, EMC contends with an enormous amount of data.Īll that data is produced in widely different ways by its 2,400 employees, affiliated insurance networks and independent agents.
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