Insurance vs. Reinsurance: 50/50%
Treaty vs. Facultative Reinsurance: 50/50%
Former Insurance or Reinsurance Company Officer
Ethics Training, as Trainee: 1; May 2009
ARIAS Conference Faculty: 4; Spring 2006, Spring 2009, Fall 2011, Fall 2013
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.