STORY FROM: Reinsurance & Arbitration
N.Y. Federal Judge Sends $5.5 Million Reinsurance Dispute to Arbitration
February 9, 2017
NEW YORK — A dispute in which Lexington Insurance Co. is seeking $5.5 million in reinsurance proceeds from HDI Global SE must be arbitrated pursuant to the reinsurance certificate’s arbitration clause, a New York federal judge has ruled.
In a Feb. 7 order, Judge Colleen McMahon of the U.S. District Court for the Southern District of New York ruled that the dispute is encompassed by the broadly worded arbitration provision because it turns upon interpretation of the certificate.
HDI issued a facultative reinsurance certificate that covered a policy Lexington issued to Central Puget Sound Transit Authority.
On Sept. 25, ...
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