STORY FROM: Reinsurance & Arbitration
National Union Asks N.Y. Judge to Appoint Umpire to Oversee Reinsurance Arbitration
September 4, 2018
NEW YORK — National Union Fire Insurance Co. has asked a New York court to appoint an umpire to oversee its reinsurance dispute with Employers Insurance Company of Wausau, explaining that the parties have reached an impasse in the selection process.
In a June 27 petition filed in the New York County Supreme Court, National Union argued that it has presented Wausau with four highly qualified candidates, but Wausau has rejected National Union’s proposal for umpire selection.
Wausau reinsured National Union under a Casualty Excess Reinsurance contract, with a $10 million limit, excess $5 million each occurrence. The contract included ...
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