STORY FROM: Reinsurance & Arbitration
Home Liquidator’s Reinsurance Claim Barred by Earlier Arbitration Award, Reinsurer Maintains
December 7, 2016
NEW YORK — In responding to a lawsuit seeking reinsurance proceeds allegedly owed to the estate of The Home Insurance Co., reinsurer Tryg Forsikring A/S asserts that a final arbitration award issued in April bars the claim because, without notice to Tryg, the liquidator arbitrated unsuccessfully against the interests of Tryg.
In a Nov. 29 answer filed in the U.S. District Court for the Southern District of New York, Tryg contends that the liquidator’s claim was asserted in the arbitration and therefore already adjudicated.
New Hampshire’s insurance commissioner accuses Tryg of breaching the facultative certificates, which were issued by ...
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