STORY FROM: Reinsurance & Arbitration
Century Seeks Judgment, New Trial in Wake of $6.2 Million Jury Verdict
October 31, 2019
UTICA, N.Y. — Century Indemnity Co. is seeking judgment as a matter of law in the wake of a $6.2 million reinsurance verdict issued in Utica Mutual Insurance Co.’s favor, arguing that the evidence shows Utica improperly billed Century for an underlying settlement of asbestos claims filed against Goulds Pumps Inc.
In an Oct. 18 motion filed before Judge David Hurd of the U.S. District Court for the Northern District of New York, Century alternatively argues that it is entitled to a new trial due to juror misconduct.
Utica sued Century in 2013, accusing it of breaching two reinsurance ...
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