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Arbitrators, Not Court, Should Decide Preclusive Effect of Confirmed Arbitration Award, OneBeacon Argues to 1st Cir.
Arbitrators, not the court, should decide the preclusive effect of a judicially confirmed arbitration award, OneBeacon American Insurance Co. asserts in its appellee’s brief to the 1st Circuit U.S. Court of Appeals.
Travelers Casualty and Surety Co. has sued Excalibur Reinsurance Corp. for $86,721 in reinsurance proceeds arising from an underlying settlement of asbestos injury claims asserted against Zurn Industries Inc.
Arbitrators, not the court, should decide the preclusive effect, if any, of a prior arbitration award on a newly initiated proceeding, a New York federal judge has ruled.
Issue #68, November 2013
Stonewall Insurance Co. has voluntarily dismissed with prejudice its suit against XL Reinsurance America Inc. seeking $1.6 million in reinsurance proceeds for the underlying settlement of environmental claims asserted against Union Oil Company of California.
ISO Services Inc., d/b/a Property Claim Service and AIR Worldwide Corp. seek dismissal of claims that they generated and relied upon a falsified loss report in determining reinsurance sums owed by Mariah Re Ltd. for severe storm losses.
The highest court in Maine has upheld the imposition of a $150,000 penalty against Guarantee Trust Life Insurance Co. for unlawfully marketing health insurance in Maine on behalf of American Medical and Life Insurance Co. pursuant to a fronting arrangement.
Fireman’s Fund Insurance Co. has sued Everest Reinsurance Co. for $2.4 million in reinsurance proceeds for underlying asbestos claims brought against ASARCO Inc.
American Family Mutual Insurance Co. has moved to dismiss claims in which the liquidators of Mariah Re Ltd. accuse the insurer of breaching a reinsurance contract by accepting payment for severe storm losses that was based on an allegedly falsified loss report.
A Pennsylvania federal judge has refused to dismiss a suit accusing M&T Bank Corp. and its captive reinsurer of violating the Real Estate Settlement Procedures Act by engaging in a mortgage reinsurance scheme, finding a question of fact as to whether the claims were equitably tolled.
A suit accusing Bank of America of violating the Real Estate Settlement Procedures Act by engaging in a mortgage reinsurance scheme is time-barred under the act’s one-year statute of limitations, a Pennsylvania federal judge has ruled.