Profile
Nasri H. Barakat
Current Employment
  • Company:
    IIRCS, Inc. (International Consultants)
  • Position(s) and Responsibilities:

    Mediator, arbitrator and umpire; My practice includes domestic and international insurance, reisurance and commercial business. Languages include French, Arabic and Spanish.

  • Address:
    71 Arizona
    Long Beach, NEW YORK 11561 United States
  • Phone:
    2149129848
  • Cell:
    214-912-9848
  • Email:
  • Website:
    www.nhbarakat.com
Offering Services as Expert Witness in:
Automobile Underwriting, Automobile Warranty Underwriting, Casualty Underwriting, Excess of Loss Reinsurance Agreements, Facultative Certificates, Homeowners Underwriting, Insurance Underwriting, Liability Underwriting, Medical Malpractice Underwriting, Professional Liability Underwriting, Property Underwriting, Pro Rata / Quota Share Reinsurance Agreements, Reinsurance Underwriting, Workers Comp Underwriting, Accident and Health Claims, Asbestos Claims, Automobile Claims, Fidelity/Surety Claims, Homeowners Claims, Inland Marine Claims, Insurance Claims, Liability Claims, Medical Malpractice Claims, Pollution Claims, Professional Liability Claims, Property Claims, Reinsurance Claims, Toxic Tort Claims, Workers Compensation Claims, Audit / Records Inspection, Captives, Commutations, Coverage / Contract Interpretation, Financial Guarantees, Finite / Financial Reinsurance / Alternative Risk, Fronting Arrangements, Insolvencies, Life Reinsurance, Mortgage Reinsurance, Offshore / London Markets, Reinsurance Contract Wording
Previous Employment
  • Company:
    National American Insurance Company and Chandler Insurance Company, Ltd.
  • Position(s) and Responsibilities:

    President; VP underwriting and ceded and assumed reinsurance and fronting programs.

  • Company:
    Old American Insurance Services, Inc., Dallas, TX
  • Position(s) and Responsibilities:

    Vice president, Marketing, Commercial excess & surplus lines underwriting, ceded and assumed reinsurance and fronting programs.

  • Company:
    Republic Insurance Company, Dallas, TX
  • Position(s) and Responsibilities:

    Assistant Vice President Ceded and assumed reinsurance inspections, commutations, liquidations, arbitration & litigation management.

Credentials
  • Attorney:
    Yes
  • Education:
    Lebanese University of Beirut Law School (Law Degree, with
    honors-1973).
    Primer in Oil and Gas Drilling, University of Texas at Midland-Odessa (40 hours 1984)
  • Degrees:
    Law Degree
  • Languages:
    Reads, speaks and writes fluently: Spanish, French and Arabic and capable of handling and participating in hearings involving the languages mentioned earlier.
  • Other 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.
Work Experience
  • Insurance Company: 18 years.
    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
  • Reinsurance Company: 6 years.
    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
  • Insurance-related Firms: 12 years.
    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: 26 years.
    Independent/Unaffiliated Arbitrator, Umpire and/or Mediator: 26 years. Arbitrator mediator and umpire
Breakdown of Experience
  • Workers' Compensation
    50%
  • Commercial Liability
    50%
  • Product Liability
    50%
  • Automobile Liability/Property
    50%
  • Insolvencies
    45%
  • Life
    25%
  • Healthcare
    25%
  • Environmental/Pollution
    25%
  • Excess/Surplus Lines
    20%
  • Commercial Property
    10%
  • Accident & Health
    7%
  • MGA/MGU
    6%
  • Personal Lines
    5%
  • Professional Liability/Errors &, Omissions
    5%
  • Architects &, Engineers
    5%
  • Captives/Risk Retention Groups
    5%
  • Construction Defects
    2%
By Market
  • U.S. Market:
    45%
  • U.K. Market:
    25%
  • Bermuda/Off-shore Market:
    20%
  • European Market:
    5%
  • Global Market:
    5%

Insurance vs. Reinsurance: 50/50%
Treaty vs. Facultative Reinsurance: 50/50%
Former Insurance or Reinsurance Company Officer

Mediation Experience
  • Number of Mediations
    As Mediator: 26
ARIAS Experience

Ethics Training, as Trainee: 1; May 2009

ARIAS Conference Faculty: 4; Spring 2006, Spring 2009, Fall 2011, Fall 2013

Arbitration Experience

Number of Arbitrations

As an Arbitrator: 138

As an Umpire: 45

As Corporate Representative: 35

Arbitrator Experience
Number of Arbitrations
15
Appointed as an arbitrator.
13
Acted as an arbitrator through the organizational meeting or the arbitration has only reached this stage.
27
Acted as an arbitrator through the organizational meeting or the arbitration has only reached this stage and the resolution of significant pre-hearing motions.
22
Acted as an arbitrator through an evidentiary hearing of at least one full day and less than three full days regarding the substantive merits of the parties' dispute.
18
Acted as an arbitrator through an evidentiary hearing of at least three full days regarding the substantive merits of the parties' dispute.
20
Acted as an arbitrator through to final award after completion of an evidentiary hearing of at least one full day and less than three full days regarding the substantive merits of the parties' dispute.
23
Acted as an arbitrator through to final award after completion of an evidentiary hearing of at least three full days regarding the substantive merits of the parties' dispute.
Umpire Experience
Number of Arbitrations
5
Appointed as an umpire.
2
Acted as an umpire through the organizational meeting or the arbitration has only reached this stage.
3
Acted as an umpire through the organizational meeting or the arbitration has only reached this stage and the resolution of significant pre-hearing motions.
2
Acted as an umpire through an evidentiary hearing of at least one full day and less than three full days regarding the substantive merits of the parties' dispute.
4
Acted as an umpire through an evidentiary hearing of at least three full days regarding the substantive merits of the parties' dispute.
10
Acted as an umpire through to final award after completion of an evidentiary hearing of at least one full day and less than three full days regarding the substantive merits of the parties' dispute.
19
Acted as an umpire through to final award after completion of an evidentiary hearing of at least three full days regarding the substantive merits of the parties' dispute.
Company Representative Experience
Number of Arbitrations
35
Not available or unwilling to provide. ARIAS recognizes that in an effort to protect the respective company(ies) that you work(ed) for, you may not be able to divulge the status of the arbitrations that you participated in. Indicate such arbitrations here.
Biography

In 1994, Nasri H. Barakat established his practice as a full-time commercial, insurance and reinsurance arbitrator, umpire and mediator. As president of IIRCS, Inc, International Consultants, he continues to provide arbitration and litigation support for complex international disputes, expert testimony, run-off and liquidation services to the insurance and reinsurance industry.

Mr. Barakat has more than 40 years of insurance and reinsurance experience in the U.S., Europe and the Middle East. He has participated as arbitrator, umpire and mediator in a large number of arbitrations involving commercial, insurance and reinsurance disputes.

Mr. Barakat is an ARIAS-US certified arbitrator and umpire. He is also listed on the “Roster of Neutrals” of the American Arbitration Association’s commercial domestic (AAA) and International (ICDR) panels, the USCIB, AIRROC and CPR panels. His extensive exposure to international commercial business includes major industry privatization of several Middle Eastern countries applying for admittance in the World Trade Organization (WTO).

His keen knowledge of the Islamic Sharia Law and abilities to fluently read, speak and write French, Arabic, Spanish and English put him in a unique position to serve on certain international panels.

Prior to founding IIRCS, Inc., Mr. Barakat served as president of National American Insurance Company, vice-president of Chandler Insurance Company Limited (an Offshore Reinsurance Company) and vice-president of Old American Insurance Services, Inc. of Dallas, Texas. He also held executive and other positions with Republic Insurance Company of Dallas, Texas and ITT Hartford.

Mr. Barakat is a non-practicing attorney.