Blue Cross Blue Shield of Tennessee v. BCS INS.

MEMORANDUM OPINION AND ORDER

REBECCA R. PALLMEYER, District Judge.

Defendant BCS Insurance Company (“BCS”) issued to Plaintiff Blue Cross Blue Shield of Tennessee (“BCBST”) Directors and Officers Liability Insurance Policy No. D/O 991-390 (the “Policy”). In the Policy, the parties agreed to binding arbitration of “[a]ny controversy arising out of or relating to this Policy.” BCBST filed a demand for arbitration under the Policy in October 2004. Although the parties began conducting discovery, two arbitrators withdrew from the panel in 2006. With the arbitration still pending, BCBST filed a…