Judge Confirms Allocation Award Rendered in TIG's Favor

NEW YORK - An arbitration award stating that Global International Reinsurance Company Ltd. had released its right to audit and dispute claims reported to its cedent prior to Jan. 1, 2003, has been confirmed by a New York federal judge. Global International Reinsurance Company Ltd. v. TIG Insurance Co., No. 09-1289 (S.D. N.Y.).

In an Aug. 7 order, Judge Jed S. Rakoff of the U.S. District Court for the Southern District of New York ruled that the arbitrator acted within his discretion to resolve the material factual disputes without discovery or an evidentiary hearing.

Global reinsured TIG under a …