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This case entails a dispute arising from services provided by the appellee, CIC Services, LLC (“CIC”), a creator and supervisor of “captive” insurance plan firms, into the appellant Company, SRM Team, Inc. (“SRM”). SRM employed CIC to type and control two captive insurance plan businesses to provide SRM in risk management, as well as the get-togethers memorialized their partnership in two administration agreements, one particular for each of the newly formed captive insurance companies. When CIC subsequently finished its contractual relationship with SRM for result in, SRM demanded arbitration pursuant towards the arbitration clauses contained within the agreements. The arbitrator dismissed all of SRM’s claims. CIC then demanded a 2nd arbitration, trying to get legal professional’s expenses, expenditures, and prices incurred in the course of the initially arbitration and stating statements for breach of agreement and fraudulent inducement towards SRM. The next arbitrator eventually awarded to CIC $261,487.04 in attorney’s service fees, costs, and costs incurred over the to start with arbitration proceeding, pursuant to your indemnity clauses from the events’ management agreements, and $137,337.fifty in lawyer’s charges, charges, and prices due to the fact CIC was the considerably prevailing social gathering in the next arbitration.
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