STORY FROM: Reinsurance & Arbitration
N.Y. Federal Court Confirms Arbitration Award, Finds No ‘Manifest Disregard of the Law’
December 4, 2019
[Editor's note: Rachel J. Schwartz of Carlton Fields in New York represents property and casualty insurance industry clients in litigation, and counsels them on varied coverage matters, including coverage disputes arising under Commercial General Liability and Directors & Officer policies.]
NEW YORK — A New York federal court has confirmed an arbitration award issued in favor of a mining equipment supplier, ruling that arbitrators did not manifestly disregard the law by rejecting a “duty to inform” claim because it was plausible for them to find that the undisclosed risks were not important enough to warrant disclosure.
In a Nov. 4 ...