STORY FROM: Reinsurance & Arbitration
Panel has Jurisdiction Over Reinsurance Billing Dispute, N.Y. Federal Judge Rules
October 30, 2019
NEW YORK — An arbitration panel that issued a final award in 2017 that resolved a reinsurance billing dispute has jurisdiction to hear a dispute over a subsequent reinsurance billing because it arose from the “protocols” established by the final award, a New York federal judge has ruled.
In an Oct. 21 order, Judge J. Paul Oetken of the U.S. District Court for the Southern District of New York concluded that the original arbitration panel is best suited to resolve the dispute over the new reinsurance billing.
General Reinsurance Corp. and SCOR Reinsurance Co. reinsured Chicago under a Second Layer ...
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