STORY FROM: Reinsurance & Arbitration
N.Y. Federal Judge Confirms $2 Million Reinsurance Arbitration Award
October 7, 2016
NEW YORK — A New York federal judge has confirmed a reinsurance arbitration award requiring Employers Insurance of Wausau to pay $2 million in principal and interest to its cedents pursuant to quota share contracts, noting that Wausau did not oppose confirmation.
Judge Andrew L. Carter Jr. of the U.S. District Court for the Southern District of New York confirmed the award on Oct. 3.
Nutmeg Insurance Co. and Twin City Fire Insurance Co. (“Hartford,” collectively) and Employers Insurance of Wausau were parties to certain “Casualty Quota Share Contracts of Reinsurance” and “First Casualty Excess Reinsurance Contracts.”
In July 2012, ...
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