STORY FROM: Reinsurance & Arbitration

Parties Urge N.Y. Federal Judge to Consider Summary Judgment Motions in $1.7 Million 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, noting more than two years have passed since the motions were filed.

In a July 19 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 more than three years ago.

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

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