NICO Opposes 'Rearbitration' of Fraud, Rescission Claims

NEW YORK - National Indemnity Co. has asked a New York federal judge to refuse to send reinsurers' fraud and rescission claims to arbitration, asserting that the claims were resolved in arbitrations held in 2007. National Indemnity Co. v. Stonewall Insurance Co., et al., No. 08-CV-3718, (S.D. N.Y.).

In its Sept. 5 brief, NICO opposes a motion to compel arbitration filed by Stonewall Insurance Co. and Seaton Insurance Co. in the U.S. District Court for the Southern District of New York. NICO asserts that the court, not arbitrators, should determine whether the 2007 arbitration awards should be enforced.

NICO assumed …