Federal Judge Orders Award Sealed Pending Confirmation Proceedings

PHILADELPHIA - A Pennsylvania federal judge has sealed a final reinsurance arbitration award pending Century Indemnity Co.'s motion to confirm and Lloyd's of London's opposition. Century Indemnity Co. v. Certain Underwriters at Lloyd's of London, No. 08-219 (E.D. Pa.).

In a Jan. 12 order, U.S. District Judge Eduardo C. Robreno of the U.S. District Court for the Eastern District of Pennsylvania ruled that the parties' confidentiality agreement should be enforced.

Century and Lloyd's entered into a contingency first excess of loss reinsurance treaty that covered a portion of Century's risk under certain insurance policies. The contract was in effect from …