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Reinsurance & Arbitration

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National Union Urges N.Y. Judge to Send $901,143 Reinsurance Dispute to Arbitration

National Union Fire Insurance Company of Pittsburgh is urging a New York federal judge to require two reinsurers to submit to an arbitration in which it seeks reimbursement for an underlying settlement of asbestos claims asserted against PPG Industries Inc.


Amended Scheduling Order Issued in N.Y. Federal Reinsurance Action

A New York federal judge has issued an amended scheduling order in a reinsurance action involving the settlement of claims stemming from a 2008 deadly trucking accident.


Bench Trial Begins in Follow-The-Settlements Action in N.Y. Federal Court

A bench trial has begun in a dispute between Munich Reinsurance America Inc. and Utica Mutual Insurance Co. concerning reinsurance coverage for an underlying settlement of asbestos claims filed against Goulds Pumps Inc.


Settlement Discussions Initiated in Conn. Federal Applied Underwriters ‘EquityComp’ Action

A Connecticut federal judge has sent a dispute arising from Applied Underwriters Inc.’s “EquityComp” workers’ compensation program to a magistrate judge for settlement discussions, according to a recent order.


Confidentiality Order Issued in $224,886 Dispute Between Home Liquidator, Reinsurer

A New York federal judge has issued a stipulated confidentiality order in a lawsuit in which the liquidator of The Home Insurance Co. is seeking payment of reinsurance proceeds under three facultative reinsurance certificates.


Odyssey Re Seeks Disbursement of Funds from Court Registry in $3.2 Million Fraud Action

Odyssey Reinsurance Co. is urging a California federal judge to authorize payment of $734,702.68 to it in partial satisfaction of a $3.2 million judgment rendered against Cal-Regent Services Corp., arguing that the funds are not required to remain in a court registry until a final judgment is issued.


Plaintiffs Seek Certification of Class in Banner Life Action

Plaintiffs who accuse Banner Life Insurance Co. of shifting its debt to offshore reinsurers in order to hide its “questionable” solvency have moved to certify a class of individuals who purchased universal life policies from Banner and were later allegedly hit with skyrocketing “cost of insurance” rates.


Former Applied Underwriters Policyholder to Appeal Confirmation of Arbitration Award

A landscaping company is appealing a California federal judge’s confirmation of an arbitration award issued in favor of Applied Underwriters Captive Risk Assurance Co. (AUCRA).


Judge Awards Insurers $5.28 Million in Damages Arising from Sept. 11 Attacks

A New York federal judge has awarded $5.28 million to six insurers for damages arising from the Sept. 11, 2001, terrorist attacks, ruling that they are entitled to amounts they paid under their reinsurance contracts.


Utica Permitted to Present Evidence of Follow-The-Settlements at Upcoming Reinsurance Trial

A New York federal judge has addressed various motions in limine filed by Munich Reinsurance America Inc. and Utica Mutual Insurance Co. in a reinsurance dispute, ruling in part that Utica may present evidence concerning follow-the-fortunes and follow-the-settlements at trial.


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