STORY FROM: Reinsurance & Arbitration
Lloyd’s Underwriters Urge Mont. Federal Judge to Send $2.65 Million Action to Arbitration
May 22, 2020
MISSOULA, Mont. — Certain Underwriters at Lloyds London are urging a Montana federal judge to send a $2.65 million reinsurance action to arbitration, arguing that the reinsurance agreement at issue requires resolution of such disputes before a three-member panel.
In a May 19 reply filed before Judge Dana L. Christensen of the U.S. District Court for the District of Montana, Underwriters argue that claims brought against them by the Montana Association of Counties Property and Casualty Trust (MACo) relate to the reinsurance agreement’s “interpretation or performance,” and therefore fall under its arbitration provision.
“MACo acknowledges the agreement includes a broad ...
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