STORY FROM: Reinsurance & Arbitration
Late Notice Dispute Between Utica, Fireman’s Fund, Scheduled for Nov. Trial in N.Y. Federal Court
July 19, 2017
UTICA, N.Y. — A reinsurance dispute between Fireman’s Fund Insurance Co. and Utica Mutual Insurance Co. concerning an underlying $325 million settlement of asbestos claims asserted against Goulds Pumps Inc. has been scheduled for trial on Nov. 13.
In a July 14 letter, Utica’s counsel informed Judge David N. Hurd of the U.S. District Court for the Northern District of New York that the case will remain a jury trial.
From 1966 to 1972, Utica insured Goulds under primary and umbrella policies. The umbrella policies were reinsured by FFIC and General Reinsurance Corp. Utica retained 5 percent of the first ...
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