STORY FROM: Reinsurance & Arbitration
AUCRA Seeks Confirmation of $82,130 Arbitration Award Related to EquityComp Program
May 31, 2018
LOS ANGELES — Applied Underwriters Captive Risk Assurance Company Inc. is urging a California federal court to confirm an $82,130 arbitration award issued against a participant in its EquityComp workers’ compensation insurance program, arguing the insured never moved to vacate the award.
In a May 23 memorandum in support of its motion to confirm filed in the U.S. District Court for the Central District of California, AUCRA further argues that the Reinsurance Participation Agreement (RPA) at issue dictates that arbitration awards “shall be binding and conclusive on the parties” and that the court has jurisdiction to confirm the award.
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