EXECUTIVE LIFE INSURANCE COMPANY OF NEW YORK EXECUTIVE LIFE INSURANCE COMPANY OF CALIFORNIA V ALEXANDER INSURANCE LIMITED ALEXANDER INSURANCE LIMITED V EXECUTIVE LIFE INSURANCE COMPANY OF NEW YORK EXECUTIVE LIFE INSURANCE COMPANY OF CALIFORNIA

(1994) 3 Re LR 243

United States Court of Appeals Eighth Circuit

Before Circuit Judge Fagg, Senior Circuit Judge, Heaney and Circuit Judge Beam

Arbitrator - Award - Review - Whether district court erred in concluding arbitrators exceeded their authority in awarding refund under reinsurance contracts - Courts’ jurisdiction to review arbitration awards - Whether contracts empowered arbitrators to use equity and customary industry practices to decide all questions and issues - Whether arbitrators violated essence of contracts by first considering customary industry practices and then using equitable considerations in resolving dispute on which contract was silent - Whether arbitrators acted in manifest disregard of law.