STORY FROM: Reinsurance & Arbitration
Munich Re Disclaims Obligation to Reimburse Utica’s Payment of Defense Costs Above Policy Limits
July 6, 2016
ALBANY, N.Y. — Munich Reinsurance America Inc. says it is not obligated to reimburse Utica Mutual Insurance Co. for defense costs incurred by Goulds Pumps Inc. that were in addition to Utica’s policy limits because Utica’s defense obligation was only triggered where the occurrence was covered by underlying policies.
In a June 27 motion for summary judgment filed in the U.S. District Court for the Northern District of New York, Munich Re further argued that Utica is collaterally estopped from seeking reimbursement for those defense costs because the issue had already been decided in a previous arbitration.
Munich Re issued ...
Associated Law Firms
Hunton & Williams
Rubin Fiorella & Friedman
Simpson Thacher & Bartlett
Motion For Summary Judgment