The court’s analysis turns on policy text and Louisiana law. The Contract Allocation Endorsement – treating the policy as “a separate contract between the Insured and each of the Underwriters” – meant that once the foreign insurers were dismissed with prejudice, no foreign party remained to any arbitration agreement, so the Convention did not apply. With the Convention off the table, Louisiana’s prohibition on arbitration clauses in insurance policies controlled, and the court held that equitable estoppel and a delegation clause could not overcome that bar. For Louisiana property risks written on multi‑insurer surplus lines programs, this points to litigation – not arbitration –