STORY FROM: Reinsurance & Arbitration
Calif. Federal Judge Sends $8.6 Million Reinsurance Dispute to Arbitration
November 19, 2019
LOS ANGELES — A California federal judge has sent to arbitration a cedent’s lawsuit seeking $8.6 million in reinsurance from The Hartford Steam Boiler Inspection and Insurance Co. for losses sustained by a date farm following an electrical power outage.
Judge John Kronstadt of the U.S. District Court for the Central District of California found the dispute falls within the scope of the reinsurance contract’s arbitration provision. The judge stayed the action pending arbitration of the action.
In 2006, HSB agreed to reinsure a commercial property policy issued by NAIC to Woodspur Farms, an organic date farm. An endorsement to ...
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