STORY FROM: Reinsurance & Arbitration

Parties Urge N.Y. Federal Judge to Consider Summary Judgment Motions in $1.7 Million Reinsurance Case

NEW YORK - The parties in a $1.7 million reinsurance action involving an underlying asbestos settlement are urging a New York federal judge to consider their renewed cross-motions for summary judgment, arguing that more than 20 months have passed since the motions were filed.

In a Feb. 8 letter to Judge Paul G. Gardephe of the U.S. District Court for the Southern District of New York, counsel for Fireman's Fund Insurance Co. and OneBeacon Insurance Co. added that the original motions for summary judgment were filed 31 months ago.

In the action, FFIC seeks $1.7 million in reinsurance proceeds from ...

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