STORY FROM: Reinsurance & Arbitration

Century Says it Does Not Oppose Confirmation of Reinsurance Arbitration Award

BOSTON — Century Indemnity Co. says it does not oppose Certain Underwriters at Lloyd’s efforts to confirm an arbitration award arising from a dispute over reinsurance coverage for sexual molestation claims filed against the Boy Scouts of America.

However, in its Nov. 9 response filed before Judge Denise Casper of the U.S. District Court for the District of Massachusetts, Century says it disputes Underwriters’ assertions about the “propriety” of Century’s Aug. 16 reinsurance billings as a result of the panel’s final award or clarification award.

The impact, if any, of those awards has on Century’s subsequent billings to ...

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