STORY FROM: Reinsurance & Arbitration
Fireman’s Fund Seeks Judgment or New Trial in Wake of $64 Million Reinsurance Verdict
January 9, 2018
UTICA, N.Y. — In the wake of an adverse $64 million reinsurance verdict, Fireman’s Fund Insurance Co. (FFIC) has moved for judgment as a matter of law, arguing that Utica Mutual Insurance Co. has failed to prove that the certificates at issue provided coverage, or that its reinsurance claim was timely.
In its Dec. 29 motion filed in the U.S. District Court for the Northern District of New York, FFIC alternatively moved for a new trial, further maintaining that it is not liable for the billing because the follow-the-settlements doctrine is not applicable in the instant case.
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