STORY FROM: Reinsurance & Arbitration

Reinsurer Says $8.6 Million Reinsurance Dispute Should Be Arbitrated

LOS ANGELES — The Hartford Steam Boiler Inspection and Insurance Co. argues that a lawsuit seeking $8.6 million in reinsurance for losses sustained by a date farm following an electrical power outage must be arbitrated under the terms of the reinsurance agreement.

In a June 19 reply filed in the U.S. District Court for the Central District of California, HSB says Nationwide Agribusiness Insurance Co.’s claims arise out of the interpretation of the reinsurance agreement and therefore fall within the scope of the arbitration clause contained in that agreement.

NAIC and HSB entered into an agreement in January 2006 ...

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