STORY FROM: Reinsurance & Arbitration
OneBeacon Asks N.Y. Federal Court to Confirm Reinsurance Arbitration Award
January 24, 2017
NEW YORK — OneBeacon Insurance Co. has asked a New York federal court to confirm an arbitration award issued in a reinsurance dispute involving Certain Underwriters at Lloyd’s London, noting that its motion is unopposed by Lloyd’s.
In a Jan. 20 supplemental petition filed in the U.S. District Court for the Southern District of New York, OneBeacon says no grounds exist for vacatur, modification or correction of the award.
OneBeacon, now known as Bedivere Insurance Co., demanded arbitration against Certain Underwriters at Lloyd’s London on Feb. 13, 2015, seeking to recover sums allegedly owed under a Multiple Lines Reinsurance Treaty ...
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