STORY FROM: Reinsurance & Arbitration
Reinsurers Ask Judge To Compel Arbitration of Fraud, Rescission Claims
July 24, 2008
NEW YORK - Two reinsurers are urging a New York federal judge to compel arbitration of their fraud and recission claims against National Indemnity Co. (NICO), asserting that arbitrators, not the court, should determine the preclusive effect of prior, related arbitrations. National Indemnity Co. v. Stonewall Insurance Co., et al., No. 08-CV-3718, (S.D. N.Y.).
The July 23 motion to stay or dismiss and compel arbitration filed by Stonewall Insurance Co. and Seaton Insurance Co. is pending before Judge Robert W. Sweet of the U.S. District Court for the Southern District of New York.
NICO assumed 100 percent of Seaton Insurance ...
Motion to Compel