STORY FROM: Reinsurance & Arbitration

Transport Says it is ‘Ready and Willing’ to Arbitrate Reinsurance Dispute With Underwriters

BOSTON — In response to Certain Underwriters at Lloyd’s, London’s petition to compel arbitration of a dispute involving reinsurance billings for underlying environmental losses, Transport says it is “ready and willing to arbitrate pursuant to the arbitration clause in the parties’ contract.”

In its June 21 answer filed in the U.S. District Court for the District of Massachusetts, Transport also asserted affirmative defenses, arguing that Underwriters fail to state a claim upon which relief can be granted and failed to exhaust contractual remedies.

Underwriters and Transport are parties to a “Fifth Excess Casualty Reinsurance Contract,” effective April 1, 1980, ...

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