STORY FROM: Reinsurance & Arbitration

Century Denied Judgment, New Trial in Wake of $6.2 Million Reinsurance Verdict

UTICA, N.Y. — A New York federal judge has denied Century Indemnity Co.’s motion for judgment as a matter of law following a $6.2 million reinsurance verdict issued in Utica Mutual Insurance Co.’s favor, finding the evidence shows that Century was not improperly billed for an underlying settlement of asbestos claims.

On Dec. 3, Judge David Hurd of the U.S. District Court for the Northern District of New York also denied Century’s motion for a new trial, ruling that the verdict was not against the weight of the evidence or that the trial was tainted by a juror’s undisclosed relationship ...

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