STORY FROM: Reinsurance & Arbitration
Integrand Receiver Seeks Stay of Arbitration in $56 Million Reinsurance Dispute
December 26, 2019
SAN JUAN, Puerto Rico — A Puerto Rico federal judge has been asked to stay an arbitration in which the receiver of Integrand Assurance Co. is seeking more than $56 million in reinsurance coverage for claims arising from two hurricanes that devastated Puerto Rico in September 2017.
In a Dec. 21 motion, the receiver asked Judge Daniel Dominguez of the U.S. District Court for the District of Puerto Rico to hold the arbitration in abeyance until the liquidation order’s stay is lifted.
On Sept. 6, 2017, Hurricane Irma hit Puerto Rico, causing significant damage to the island’s infrastructure, properties and ...