Insurers Will Not Appeal Arbitration Order in N.Y. Federal Beechwood Re Dispute

NEW YORK — Two insurers will not appeal a New York federal judge’s order requiring them to arbitrate their claims accusing the principals of Beechwood Re of mishandling reinsurance trust assets.

According to an Aug. 21 notice filed in the U.S. District Court for the Southern District of New York, Bankers Conseco Life Insurance Co. and Washington National Insurance Co. have withdrawn their motion to certify an interlocutory appeal.

In that June 4 motion, the insurers argued that Judge Edgardo Ramos’ ruling was in error because it requires them to arbitrate with non-signatories to the reinsurance agreements at issue.