STORY FROM: Reinsurance & Arbitration
Applied Underwriters Reinsurer Seeks Confirmation of $82,130 Arbitration Award
May 3, 2018
LOS ANGELES — Applied Underwriters Captive Risk Assurance Company Inc. has asked a California federal court to confirm an $82,130 arbitration award issued against a participant in its EquityComp workers’ compensation insurance program.
In an April 23 petition, AUCRA argues that the Reinsurance Participation Agreement (RPA) at issue dictates that arbitration awards “shall be binding and conclusive on the parties.”
On Nov. 12, 2013, AUCRA and O’Connell Landscape Maintenance Inc. executed a three-year RPA, through which O’Connell was allowed to participate in the EquityComp program.
At that time, O’Connell also executed a request to bind, which included an arbitration ...
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