STORY FROM: Reinsurance & Arbitration
Non-Party Ordered to Pay Attorneys’ Fees for Filing Improper Appeal in $1.5 Million Reinsurance Action
September 30, 2019
NEW YORK — A New York federal judge has ordered a non-party to pay a group of reinsurers $3,550 in attorneys’ fees for improperly filing an appeal in a settled case involving a $1.5 million reinsurance arbitration award.
In a Sept. 26 order, Judge Vernon Broderick of the U.S. District Court for the Southern District of New York held that because IPA Acquisitions was not a party to the action and its counsel has never represented the defendant insurer in the litigation, Underwriters’ motion for attorney’s fees should be granted.
Insurance Company of the Americas (ICA) wrote workers’ compensation insurance ...
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