STORY FROM: Reinsurance & Arbitration
AUCRA Must Pay Employer $80,000, Plus Arbitrator Fees, Calif. Federal Judge Says
June 21, 2019
SAN FRANCISCO — A California federal judge has ruled that an arbitrator properly ordered Applied Underwriters Captive Risk Assurance Company Inc. to pay an employer $79,167, plus five percent interest in a dispute over sums owed under two reinsurance participation agreements.
In a June 17 order, Judge Edward Chen of the U.S. District Court for the Northern District of California also confirmed a portion of the award ordering AUCRA to pay more than $3 million in arbitrator fees. However, the judge vacated the arbitrator’s determination that AUCRA must pay 10 percent interest if did not pay the employer within 30 ...
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