STORY FROM: Reinsurance & Arbitration
Insurer Opposes Efforts to Arbitrate $8.6 Million Reinsurance Dispute
June 11, 2019
LOS ANGELES — An insurer has opposed The Hartford Steam Boiler Inspection and Insurance Co.’s motion to compel arbitration of a lawsuit seeking $8.6 million in reinsurance proceeds for losses sustained by an organic date farm following an electrical power outage.
In a June 6 opposition filed in the U.S. District Court for the Central District of California, Nationwide Agribusiness Insurance Co. maintains that dispute does not arise out of the interpretation of the reinsurance agreement. Rather, the parties disagree over whether the losses are covered under the underlying insurance contract, the insurer contends.
NAIC and HSB entered into an ...
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