STORY FROM: Reinsurance & Arbitration
Conn. Federal Judge Confirms Clarified Reinsurance Arbitration Award in Life Insurance Dispute
April 5, 2017
HARTFORD, Conn. — A Connecticut federal judge has confirmed an arbitration award, as clarified, in a dispute involving General Re Life Corp.’s reinsurance of life insurance policies issued by Lincoln National Life Insurance Co., ruling that the clarification maintained the “spirit and basic effect” of the award.
On March 31, Judge Victor Bolden of the U.S. District Court for the District of Connecticut found the award was ambiguous, warranting a clarification, and the clarification was consistent with the arbitrators’ intent and maintained the underlying resolution of the dispute.
The clarification requires General Re to pay an additional $17 million to ...
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