STORY FROM: Reinsurance & Arbitration
Applied Underwriters' Captive Reinsurer Appealing Confirmation of $500,000 Arbitration Award
March 14, 2018
LOS ANGELES - Applied Underwriters Inc.'s captive reinsurer is appealing a California federal judge's confirmation of an arbitration award requiring it to pay more than $500,000 to a former policyholder who participated in the EquityComp workers' compensation insurance program.
According to a Feb. 22 notice of appeal, Applied Underwriters Captive Risk Assurance Company Inc. asked the 9th Circuit U.S. Court of Appeal to review an order that found the arbitrator did not manifestly disregard the law in issuing the award.
In 2012, Bayless Engineering Inc. sought workers' compensation coverage and requested quote proposals for policies offered through Applied Underwriters' ...
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