STORY FROM: Reinsurance & Arbitration

N.Y. Federal Judge Refuses to Hear Oral Argument on Cross-Motions for Summary Judgment in Allocation Dispute

NEW YORK — A New York federal judge has denied a request by Fireman’s Fund Insurance Co. and OneBeacon Insurance Co. to hear oral argument on their cross-motions for summary judgment in a dispute over whether FFIC’s allocation of underlying asbestos losses was reasonable and in good faith.

On Oct. 21, Judge Paul G. Gardephe of the U.S. District Court for the Southern District of New York rejected without comment the parties’ argument that oral argument would assist the judge in resolving the issues of reinsurance law presented by the cross-motions.”

FFIC issued three one-year excess umbrella liability policies to ...

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