STORY FROM: Reinsurance & Arbitration
General Re Life Asks Conn. Federal Court to Vacate Clarification of Final Reinsurance Award
June 9, 2016
HARTFORD, Conn. — General Re Life Corp. has asked a Connecticut federal court to vacate an arbitration panel’s clarification of a final reinsurance award, arguing that the panel exceeded its powers because the award was “unquestioningly final” and contained no ambiguities.
Gen Re further opposed Lincoln National Life Insurance Co.’s motion to enter judgment against it, arguing that Lincoln “presupposes the validity of the arbitration panel’s purported clarification of the final award, which stands in direct violation of the functus officio doctrine and fundamental principles regarding the finality of arbitration awards.”
Gen Re reinsured various individual life insurance policies written ...
Associated Law Firms
Carmody Torrance Sandak & Hennessey
Pullman & Comley
Motion For Judgment