STORY FROM: Reinsurance & Arbitration
N.Y. Federal Judge Confirms Reinsurance Arbitration Award Involving OneBeacon, Lloyd’s
February 1, 2017
NEW YORK — A New York federal judge has granted OneBeacon Insurance Co.’s unopposed motion to confirm an arbitration award issued in a reinsurance dispute involving a treaty issued by Certain Underwriters at Lloyd’s London.
On Jan. 24, Judge Katherine B. Forrest of the U.S. District Court for the Southern District of New York agreed with OneBeacon that no grounds exist for vacatur, modification or correction of the award.
OneBeacon, now known as Bedivere Insurance Co., demanded arbitration against Lloyd’s on Feb. 13, 2015, seeking to recover sums allegedly owed under a Multiple Lines Reinsurance Treaty (MLRT) for underlying asbestos ...
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