STORY FROM: Reinsurance & Arbitration
Cedent Asks N.Y. Federal Judge to Order Reinsurer to Proceed to Arbitration of $3.85 Million Dispute
November 18, 2016
NEW YORK — A cedent has asked a New York federal judge to compel a reinsurer to proceed to arbitration to resolve a $3.85 million dispute involving underlying workers’ compensation losses, arguing that the reinsurer has refused to arbitrate without the participation of 23 non-party members of a reinsurance group.
In a Nov. 14 petition filed in the U.S. District Court for the Southern District of New York, National Union Fire Insurance Company of Pittsburgh says the reinsurance contracts do not permit Federal Insurance Co. to substitute or add members of the Pinehurst Accident Reinsurance Group.
According to the petition, ...
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