STORY FROM: Reinsurance & Arbitration
Lloyd’s Underwriters ask Mass. Federal Judge to Dismiss Century’s Arbitration Demand
May 30, 2019
BOSTON — Certain Underwriters at Lloyd’s London seek dismissal of Century Indemnity Co.’s petition to compel arbitration of a reinsurance dispute, arguing there is already a pending federal court action that involves the same parties, billings and reinsurance contracts at issue in the petition.
In a May 23 petition filed in the U.S. District Court for the District of Massachusetts, Underwriters further argue that the court has already held that four separate arbitrations, rather than the consolidated arbitration sought by Century, are required.
Century and Lloyds’ are parties to reinsurance contracts that date back to the 1960s. Each of those ...
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