Mutual Marine, British Law, Will Arbitrate Reinsurance Treaty Dispute

NEW YORK - A suit filed by Mutual Marine Office Inc. demanding payment under excess-of-loss reinsurance treaties has been voluntarily dismissed by the parties so that the dispute could proceed to arbitration. Mutual Marine Office Inc. v. British Law Insurance Co., No. 10-4306 (S.D. N.Y.)

On Sept. 15, Mutual Marine and British Law Insurance Co. stipulated to the dismissal of the action, which had been pending before Judge George B. Daniels in the U.S. District Court for the Southern District of New York.

In the late 1970s and 1980s, MMO placed a number of excess-of-loss reinsurance treaties with reinsurers in …