STORY FROM: Reinsurance & Arbitration
Parties Battle Over Location of Arbitration in N.Y. Superstorm Sandy Reinsurance Dispute
December 11, 2015
NEW YORK — In an action involving reinsurance for an underlying Superstorm Sandy property damage claim, the parties are battling over whether the dispute should be arbitrated in New York or London pursuant to the terms of the reinsurance certificate at issue.
In a Dec. 3 filing in the U.S. District Court for the Southern District of New York, Swiss reinsurer Infrassure Ltd. argues that it is not bound by an endorsement in the certificate requiring arbitration in London, arguing that it only applies to reinsurers headquartered in the United Kingdom or Bermuda.
According to Infrassure’s Oct. 19 complaint, Metropolitan ...
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