STORY FROM: Reinsurance & Arbitration

N.Y. Federal Judge Confirms Award, Orders Parties to Defend Continued Sealing

NEW YORK — A New York federal judge has confirmed a confidential reinsurance arbitration award upon the motion of Continental Insurance Co., noting that respondent Transamerica Reinsurance Co. has not opposed confirmation.

On April 21, Judge Valerie Caprioni of the U.S. District Court for the Southern District of New York further ordered the parties to submit a letter explaining why continued sealing of the entire final award is appropriate in light of the presumption of access addressed in Lugosch v. Pyramid Co. of Onondaga (435 F.3d 110, 119-20 [2d Cir. 2006]).

CIC issued WCI a policy that was in effect ...

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