STORY FROM: Reinsurance & Arbitration
HDI Says Court Should Resolve Question of Whether $5.4 Million Reinsurance Dispute Must Be Arbitrated
February 2, 2017
NEW YORK — HDI Global SE has opposed Lexington Insurance Co.’s motion to compel arbitration of a $5.4 million reinsurance dispute, arguing that because HDI is challenging the existence of the reinsurance contract containing the arbitration clause, the court must resolve the issue.
In a Jan. 13 opposition brief filed in the U.S. District Court for the Southern District of New York, HDI maintained that Lexington issued a fundamentally different policy to its insurer, thereby misrepresenting the risk it asked HDI to underwrite. As such, the reinsurance policy is void, HDI asserts.
HDI issued a facultative certificate that reinsured a ...
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