Nasri Barakat
Personal Information
  • Address:
    71 Arizona
    Long Beach, New York 11561
    United States
  • Phone:
    2149129848
  • Email:
Credentials
  • Attorney:
    No
  • Education:
    Lebanese University of Beirut Law School (Law Degree, with honors-1973). Primer in Oil and Gas Drilling, University of Texas at Midland-Odessa Also, received in excess of 450 hours of CLE related to commercial, insurance and reinsurance arbitration and mediation.
  • Degrees:
    Law Degree
  • Languages Spoken (English is Assumed):
    Arabic, French, Spanish
  • Additional Information:
    Expertise includes underwriting primary and excess, direct, reinsurance (facultative and treaty), domestic and international business. Also acquired an extensive knowledge in the workings of the London Market, Lloyds Underwriting and Broking while on secondment at the Excess Insurance Group in London and Paris from 1984-1986.

    Public Speaking And Engagements:

    2012 Appleman on Insurance Law edition: contributed with the co-author in providing the “Arbitrator’s perspective” for the Chapter titled: “Mediating and arbitrating insurance disputes”. ICDR 2011 Fourth Annual Practice Williem C. Vis Moot: served on two panels during this event preparing candidates for the Hong Kong and Vienna International Commercial Arbitration Moot. Since that time, was invited annually to participate as arbitrator in the “Moots” and served as arbitrator in many of these events including 2022 when I served as arbitrator for the events organized by the AAA and Fordham School of Law. Served as Discussion Leader, Ethics Session at the ARIAS-US Fall Conference, November 2011. Speaker: ARIAS-US: "A Conference for Joe the Arbitrator," May 2009; Panel member for "Streamlining the Process of Arbitration" and "Current Trends in Commercial Arbitration," Reinsurance Litigation & Arbitration Conference, Philadelphia, September 8th-9th, 2008; Booklet co-author and speaker, "Insurance and Reinsurance," AIDA 10th Congress, Morocco, May 1998. Currently serve as a member of the ARIAS US technology and international committees.

    Professional Associations:


    ARIAS-US (Member since 1998 and Certified Arbitrator and Umpire); AIDA (Association Internationale des Droits des Assurances); Reinsurance Association of America (Listed in the Arbitrators' Directory as Arbitrator and Umpire); ICC (Roster of Neutrals); AIRROC (Certified Arbitrator and Umpire); listed in the Roaster of Neutrals of the American Arbitration Association and the International Center for Dispute Resolution since 1998.
  • Offering Services as Expert Witness in:
    in property, casualty and surplus lines
  • Certified Arbitrator:
    Yes
  • Certified Umpire:
    Yes
Work Experience
Former director of an insurance or reinsurance company: No
Current officer of an insurance or reinsurance company: Yes
Former officer of an insurance or reinsurance company: Yes

Insurance Company: Underwriting Department: 8 years. Various underwriting positions including primary, excess, surplus lines, treaty and facultative, domestic and International busniess. Executive Officer (CEO, COO, CFO, Chief Actuary): 1 year. Preident, VP Reinsurance underwriting Claim Department: 3 years. large claims committee member for large property and casualty business as well as reinsurance Ceded Reinsurance Department: 2 years. run-off operations including incoming audit coordination work Assumed Reinsurance Department: 4 years. run-off operations including auditing cedent business
Insurance Company: Underwriting Department, Executive Officer (CEO, COO, CFO, Chief Actuary), Claim Department, Ceded Reinsurance Department, Assumed Reinsurance Department

Reinsurance Company: Underwriting Department: 3 years. VP Reinsurance Underwriting Executive Officer (CEO, COO, CFO, Chief Actuary): 1 year. VP Reinsurance Underwriting Claim Department: 2 years. run-off operations including auditing reinsured business, managing litigations and arbitrations
Reinsurance Department: Reinsurance Department, Underwriting Department, Executive Officer (CEO, COO, CFO, Chief Actuary), Claim Department

Insurance - related firms: Run-off Manager: 4 years. VP , Run-off Run-off Manager: 4 years. VP , Run-off Run-off Manager: 4 years. VP , Run-off

Independent/Other Relevant Experience: Independent/Unaffiliated Arbitrator, Umpire and/or Mediator: 30 years. Arbitrator mediator and umpire
Other Work Experience: TPA, Consultant, Run-off Manager, Independent/Unaffiliated Arbitrator, Umpire and/or Mediator

Breakdown of Experience
Accident & Health: both as an underwriter and as sole arbitrator, umpire, arbitrator or mediator.
Alternative/ Self Insurance/ Risk Management: during my tenure as underwriter I was involved in jumbo commercial casualty and property accounts that were self insured with high self retentions, captive reinsurances or rent-a-captive reinsurers. I was directly involved with the risk management designing programs or approving programs involving alternative/ Self Insurance and or Risk Management. Unbundled services were contemporaneous to the start of these programs on the risk and the insurance and reinsurance companies level. Subsequently as arbitrator, consultant, expert witness mediator or umpire I was involved in many cases involving these types of risks' disputes resolution.
Architects & Engineers: During my tenure as a run-off manager I was involved in the underwriting claims and run-off of books of business providing coverage for architects and engineers, I also participated as arbitrator or umpire in cases dealing with this business and coverage,
Asbestos: Starting with my underwriting years when the issues surfaced I was involved in the underwriting or re underwriting of Asbestos risks. As arbitrator or umpire I have been involved in a large number of cases dealing with various issues relating to Asbestos.
Automobile Liability/Property: As underwriter and or a claims executive I have handled many aspects of insurance and reinsurance for AL and APD. This included large long haul trucking operations. Also as arbitrator and umpire I participated on various panels dealing with issues relating to this business.
Aviation: underwriting and claims including satellite recovery while on secondment at the Excess Insurance in the UK
Bad Faith/Eco: As a claims executive and executive or insurance and reinsurance companies as well as an expert witness or arbitrator I have had a number of involvements in Bad Faith/ECO issues.
Captives/Risk Retention Groups: During my tenure in various underwriting positions, I was involved in Captive and Risk Retention Groups. I also was VP underwriting and reinsurance for a Cayman Island Captive that provided fronting arrangements for commercial automobile, including long haul tracking business. Also as arbitrator or umpire I participated on a number of panels handling cases involving this type of businesses.
Catastrophes (Casualty): As a reinsurance underwriter during my tenure at the Excess Insurance in the UK 20%
Catastrophes (Property): As a property underwriter I was involved in individual and books of business involving property catastrophe insurance or reinsurance. As arbitrator, umpire and mediator I participated on a number of panels involving cases dealing or emanating from property catastrophe coverage.
Commercial Liability: As underwriter for direct and reinsurance domestic and international liability business and since 1994 as arbitrator, umpire and mediator participating in a large number of cases involving commercial liability business.
Commercial Property: As underwriter and claims executive as well as arbitrator or umpire I have been involved in many cases involving commercial property and builders risk issues.
Commutations: During my tenure as run-off manager I successfully concluded a large number of commutations with large cedents and reinsurers, domestic and international insurance and reinsurance companies.
Construction Defects: As mentioned above in the architects and engineers segment, as underwriter, claims executive or arbitrator and umpire I have had a number of involvement that dealt with construction defects. Some of these accidents were very well publicized as they involved large or critical structures.
Contract Wording: While working at the Hartford Reinsurance Company (HART RE) I was involved in contract wording and subsequently as arbitrator, umpire, sole arbitrator and mediator I participated in a number of cases involving contract wording construction and disputes.
Directors & Officers: my involvement with this line has been limited to underwriting and claims. In my practice as arbitrator or umpire I have not had cases invlovong these coverages that went to a full evidentiary hearing.
Energy: Energy including oil and gas have been a part of my underwriting career since its inception. As underwriting I handled large casualty risks involving utilities, oil and gas drilling and exploration and pipe line construction as "owner controlled projects'. I have a working knowledge in this area as underwriter, claims executive and arbitrator/umpire. It is a sector I studied for at the UT in Odessa Texas starting with a Primer In Oil and Gas Exploration and Drilling to the largest drilling platform construction in the US starting in 1983. My experience was also enhanced with my participation in many arbitrations involving a variety of energy risks/
Environmental/Pollution: My first few years of underwriting starting in 1982 exposed me to the pollution issues from and underwriting and claims view point. Later my career as arbitrator allowed me to become involved with the various aspects of the claims relating to these risks. This area as well as asbestos comprise a majority of the cases I arbitrated.
Excess/Surplus Lines: At NAIC I was intimately involved in Excess/Surplus Lines business relating to the underwriting and claims aspect of this business. I also accepted assignments as expert witness in the course of several disputes being arbitrated of tried in a court of law.
Financial Guarantee: As arbitrator and umpire I participated in a number of cases involving financial guarantees.
Healthcare: on various levels of underwriting of individual or group insurance I have had many involvement with healthcare risks. I have been involved in the underwriting, claims, MGA, insurance. TPA and reinsurance aspects of health care risks. Of course, during the last ten years I have participated in a number of arbitrations as arbitrator, sole arbitrator or umpire dealing with issues related to Healthcare.
Insolvencies: During my tenure as a run-off manager I became a member of the committee of inspection of the largest reinsurance offshore insolvency in the world. For three years I was involved in every aspect of this insolvency. I also was chairman of the creditors committee for another very large insurance insolvency in the USA. In addition I was involved as a company representative with two of the largest domestic insolvency in the USA. My work with insolvencies spanned around five years as a company representative and a significant part of my thirty years of practice as an independent practitioner.
International: I participated in a number of arbitrations and mediations that involved commercial insurance and reinsurance business. The language of these arbitrations and mediations were French, Spanish and various Arabic dialects.
Life: As President of NAIC I oversaw the underwriting and fronting of life and life related business fronted by the company. I participated as arbitrator or umpire in a number of cases involving several life business variations.
Lloyd's: While on secondment at the Excess Insurance in the UK I was involved in the placement, underwriting and claims insured or reinsured by Lloyd's Syndicates and the Company Market. I also participated as arbitrator or umpire in a number of cases emanating from the Lloyd's and the UK Companies market.
London Company Market: While on secondment at the Excess Insurance in the UK I was involved in the placement, underwriting and claims insured or reinsured by Lloyd's Syndicates and the Company Market. I also participated as arbitrator or umpire in a number of cases emanating from the Lloyd's and the UK Companies market.
Long Term Disability: My involvement in this area is limited to my practice as arbitrator, umpire or a mediator.
MGA/MGU: I was a member of the AAMGA during my tenure at a county Mutual Insurance company in Texas handling a large book of auto liability and physical damage business. During that period I was VP Underwriting and VP reinsurance responsible for that operation. As arbitrator or umpire I participated in a number of panels handling cases involving MGA's and TPA's alike.
Personal Lines: As a domestic and international underwriter I handled several books of personal lines business and later as an arbitrator, umpire and mediator I participated in a number of cases involving personal lines. I also handled in excess of 60 mediations involving personal auto, homeowners and related personal lines cases with more than 90% success for the mediations I was assigned.
Political Risk : while on secondment at the Excess Insurance I participated in the underwriting of international political risks. As and arbitrator I also participated in the arbitration of matters involving political risks.
Product Liability: As an underwriter, claims and subsequently arbitrator, umpire and mediator I was on a number of panels dealing with product liability issues.
Product/Consumer Warranties: I was involved in the run-off, underwriting, claims and financial issues relating to two large auto warranty businesses and other consumer warranty business. As arbitrator I participated on several panels with cases relating to auto warranty and other consumer warranty business.
Third Party Administrator: At one time, I was an MGA and a TPA and as such I was intimately involved in these types of operations. As arbitrator, mediator and umpire I participated in a number of case involving TPA's and their operations.
Toxic Tort: I have been invloved in risks involving toxic tort as underwriter. and claims executive as well as arbitrator, mediator or umpire.
Workers' Compensation: As underwriter I handled large books of WC business including large retro and self insured retention programs involving domestic, international and captive companies. I also participated as arbitrator, mediator and umpire in panels handling a large number of cases for individual and books of WC business.
By Market
Bermuda/Off- Shore Market: 1-25%
U.K. Market: 1-25%
U.S. Market: 25-50%
Mediation Experience
Minimum Number of Mediations as Mediator: 86
ARIAS Experience
ARIAS Conference Faculty: Spring 2006, Spring 2009, Fall 2011, Fall 2013
Ethics Training, as Trainee: fulfilled all of the required course and seminars to mainatin my certifications since 1998
Workshops, As Faculty: several
Workshops, as Trainee: No
ARIAS Training Committee: 2
Arbitration Experience
Number of Arbitrations as an Arbitrator: 139
Number of Appointments as Arbitrator: 139
Completed Arbitrations as Arbitrator: 114
Arbitration Experience: As Corporate Representative: 35
Arbitration Experience: As Employee Manager: 35
Umpire Experience
Number of Arbitrations as an Umpire: 48 in addition serves 39 times as sole arbitrator for a total of 85
Number of Appointments as Umpire: 87
Completed Arbitrations as Umpire: 66
Biography
In excess of fifty years experience in commercial. insurance and the reinsurance industry. I started my practice as an independent commercial, insurance and reinsurance domestic and international arbitrator and mediator in 1994. I speak, read, write and participate in cases conducted in French, Spanish and Arabic. I participated in more than two hundred and fifty cases as a company representative, sole arbitrator, co-arbitrator, umpire and mediator. My specialties include commercial property, casualty, personal injury, life and health, worker's compensation, auto and consumer warranty programs and run-off, International and Sharia Law, London Market, Crop insurance, financial and banking, oil and gas, privatization, captive arrangements and transportation (including long haul trucking) insurance and reinsurance business. Certifications and affiliations: ARIAS-US Certified Arbitrator and Umpire, American Arbitration Association Neutral, International Centre for Dispute Resolution Neutral, International Chamber of Commerce (ICC) Neutral and AIRROC Neutral