STORY FROM: Reinsurance & Arbitration
N.Y. Federal Judge Confirms Arbitration Award; Denies Motion to Seal
December 4, 2019
NEW YORK — A New York federal judge has granted TIG Insurance Co.’s unopposed motion to confirm a reinsurance arbitration award, ruling that the record supports the arbitrators’ findings.
In a Nov. 25 order, Judge Paul A. Engelmayer of the U.S. District Court for the Southern District of New York found there is no material issue of fact in dispute, therefore the award should be confirmed.
However, the judge denied the parties’ joint request to seal the arbitration award, finding the confidentiality agreement that governed the arbitration proceedings “does not by its terms require that this matter proceed under seal.” ...
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