Judge Confirms Arbitration Award in Favor of Swiss Re

BOSTON - A Massachusetts federal judge has confirmed an arbitration award that bars OneBeacon America Insurance Co. from aggregating non-products asbestos claims in order to exceed a reinsurance treaty's "per occurrence" retention. OneBeacon America Insurance Co. v. Swiss Reinsurance America Corp., No. 09-11495 (D. Mass.).

On Jan. 7, Judge Patti B. Saris of the U.S. District Court for the District of Massachusetts ruled that the arbitration panel was not guilty of misconduct for limiting discovery on the issue of industry custom and practice.

Swiss Re reinsured OneBeacon under an excess loss reinsurance contract that was in effect between 1966 and …