STORY FROM: Reinsurance & Arbitration
Parties to Workers’ Compensation Reinsurance Dispute Agree to Dismissal
June 4, 2019
NEW YORK — The parties in a reinsurance dispute over coverage for underlying workers’ compensation losses have agreed to dismissal of the action following their compliance with an arbitration award and their resolution of the remaining issues.
In a May 28 letter filed in the U.S. District Court for the Southern District of New York, National Union Fire Insurance Company of Pittsburgh and Federal Insurance Co. asked Judge Valerie E. Caproni to dismiss the case with prejudice.
National Union submitted four workers’ compensation claims totaling $3,853,714.28 to Federal Insurance Co. for payment under certain reinsurance contracts. Federal, however, refused to ...
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