Cedent Asks N.Y. Federal Court to Confirm Workers’ Compensation Reinsurance Arbitration Award

NEW YORK — Insurance Company of the Americas has asked a New York federal judge to confirm an arbitration award issued against two Lloyd’s of London syndicates that led three layers of worker’s compensation reinsurance coverage, arguing that proper notice of the arbitration was provided to all parties.

In a motion filed in the U.S. District Court for the Southern District of New York, ICA asserted that the third layer reinsurers “have not and cannot meet their burden to establish any valid basis for vacating or modifying the award.”

ICA writes workers’ compensation insurance for professional employment organizations. ICA purchased …