National Risk Underwriters, Inc. v. Occidental Fire & Casualty Co.

WILKINS, Circuit Judge:

National Risk Underwriters, Inc. (“NRU”) contracted with Occidental Fire & Casualty Company of North Carolina (“Occidental”) in 1980 to procure, underwrite, and service captive insurance programs on behalf of Occidental. When Occidental terminated the agreement in 1985, a dispute arose between the parties as to the amount of compensation Occidental owed NRU. NRU notified Occidental of its claim for compensation and punitive damages and, under the agreement, demanded binding arbitration. Occidental, in turn, demanded arbitration of claims against NRU arising out of…