STORY FROM: Reinsurance & Arbitration

Continental, Transamerica Urge N.Y. Federal Judge to Confirm Reinsurance Arbitration Award

NEW YORK — Continental Insurance Co. and Transamerica Reinsurance Co. are urging a New York federal judge to confirm a reinsurance arbitration award that has already been paid because the award addresses potential future billings.

In a March 12 letter, the parties further argued that the question of whether the award has been satisfied has no bearing on whether the award should be confirmed.

CIC issued WCI a policy that was in effect from 1984 to 1985. Transamerica’s predecessor, TIG Premier Insurance Co., reinsured the policy pursuant to a facultative certificate effective the same period. WCI has been named a ...

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