STORY FROM: Reinsurance & Arbitration
N.Y. Federal Judge Sends $3.85 Million Workers’ Comp Reinsurance Dispute to Arbitration
June 13, 2017
NEW YORK — A New York federal judge has compelled National Union Fire Insurance Co. and Federal Insurance Co. to arbitrate a $3.85 million reinsurance dispute involving workers’ compensation losses.
On June 9, Judge Valerie Caproni of the U.S. District Court for the Southern District of New York said it is premature at this stage to decide whether members of the Pinehurst Accident Reinsurance Group (PARG) should participate in the arbitration.
National Union submitted four workers’ compensation claims totaling $3,853,714.28 to Federal for payment under the reinsurance contracts. Federal, however, refused to pay the billing.
National Union initiated arbitration against ...
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