STORY FROM: Reinsurance & Arbitration
Confirmation of Clarified Final Arbitration Award Was Proper, Lincoln National Contends
May 12, 2017
HARTFORD, Conn. — A Connecticut federal judge properly confirmed a clarified arbitration award that requires General Reinsurance Corp. to pay up to an additional $18 million in reinsurance proceeds to Lincoln National Life Insurance Co., Lincoln contends.
In its April 18 opposition to Gen Re’s motion for reconsideration, Lincoln argued that the Federal Arbitration Act required Judge Victor Bolden of the U.S. District Court for the District of Connecticut to confirm the clarified award. Lincoln further asserted that there is no bona fide dispute as to the calculation of the sum due under the clarified award and, as such, confirmation ...
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