STORY FROM: Reinsurance & Arbitration
Nationwide Opposes Yosemite’s Efforts to Vacate Adverse Reinsurance Arbitration Award
September 9, 2016
NEW YORK — Nationwide Insurance Co. asserts that Yosemite Insurance Co.’s motion to vacate an arbitration award for bias should be denied because Yosemite was already aware of the arbitrator’s limited involvement in an earlier proceeding, yet failed to object until it lost the arbitration proceeding.
In an Aug. 25 objection filed in the U.S. District Court for the Southern District of New York, Nationwide asserts that Yosemite has waived its right to object to the arbitrator’s alleged nondisclosure and cannot reargue the substance of the dispute that was properly submitted to arbitration.
Yosemite insured the State of California under ...
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