STORY FROM: Reinsurance & Arbitration

Utica Seeks Summary Judgment on Munich Re’s Claim for Restitution

UTICA, N.Y. — Munich Reinsurance America Inc. is barred from clawing back nearly $800,000 it allegedly overpaid Utica Mutual Insurance Co. under a 1977 reinsurance agreement, because the payment was made “voluntarily, without protest.”

In a May 22 motion for summary judgment filed in the U.S. District Court for the Northern District of New York, Utica further argues that Munich Re failed to reserve its right to reimbursement when it made the payment, and displayed a “marked lack of diligence in determining what its contractual rights were.”

In the 1970s, Utica sold primary and umbrella insurance policies to Goulds ...

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Hunton & Williams
Rubin, Fiorella & Friedman
Simpson Thacher & Bartlett

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