STORY FROM: Reinsurance & Arbitration
Fireman's Fund Appeals Denial of New Trial Following $64 Million Reinsurance Verdict
April 4, 2018
UTICA, N.Y. - Fireman's Fund Insurance Co. is appealing a New York federal judge’s decision to deny it a new trial in the wake of a $64 million reinsurance verdict issued in favor of Utica Mutual Insurance Co.
FFFIC filed its notice of appeal to the 2nd Circuit U.S. Court of Appeals on March 26.
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 $1 million of the umbrella coverage, $5 million was reinsured with FFIC under seven ...
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Notice of Appeal