STORY FROM: Reinsurance & Arbitration
Underwriters Ask Mass. Federal Judge to Compel Transport to Proceed to Reinsurance Arbitration
June 8, 2017
BOSTON — Certain Underwriters at Lloyd’s, London are urging a Massachusetts federal judge to compel Transport Insurance Co. to move forward with the arbitration of a dispute involving reinsurance billings for underlying litigation involving Vulcan Materials Co.’s liability for environmental losses.
In a May 31 brief filed in the U.S. District Court for the District of Massachusetts, Underwriters argue that Transport’s refusal to participate in the umpire appointment process constitutes a blatant attempt to delay the arbitration as long as possible so that Transport can settle with Vulcan, to Underwriters’ detriment, before Underwriters can obtain any relief in arbitration.
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