STORY FROM: Reinsurance & Arbitration
N.Y. Federal Judge Issues $6.2 Million Judgment in Favor of Utica Mutual
October 3, 2019
UTICA, N.Y. — A New York federal judge entered a judgment of more than $6 million against Century Indemnity Co. in a lawsuit accusing it of breaching two reinsurance certificates issued to Utica Mutual Insurance Co., following a jury verdict issued on Sept. 30.
In an Oct. 1 order, Judge David N. Hurd of the U.S. District Court for the Northern District of Pennsylvania entered judgment in favor of Utica under the 1973 certificate in the amount of $2,760,533.96, with interest of $1,593,470.96, for a total of $4,354,004.92; and under the 1975 certificate in the amount of $1,103,271.62, with interest ...
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