STORY FROM: Reinsurance & Arbitration

Utica Opposes Century’s Motion for New Trial Following $6.2 Million Verdict

UTICA, N.Y. — Utica Mutual Insurance Co. says Century Indemnity Co. is not entitled to judgment as a matter of law or a new trial, arguing that the evidence supported the jury’s $6.2 million reinsurance verdict in Utica’s favor.

In a Nov. 1 opposition filed before Judge David Hurd of the U.S. District Court for the Northern District of New York, Utica contends that its allocation of an underlying asbestos claims settlement with Goulds Pumps Inc. was proper and in accordance with the terms of the umbrella policies.

Utica further argues that there was no juror misconduct, and Century’s ...

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