Judge Confirms $11,000 Award in Favor of Century

NEW YORK - A New York federal judge has granted Century Indemnity Co.'s motion to confirm an $11,000 arbitration award issued against Clearwater Insurance Co., which involved underlying asbestos claims brought against Formosa Plastics Corp. Century Indemnity Co. v. Clearwater Insurance Co., No. 11-1038 (S.D. N.Y.).

In a March 30 order, Judge Richard M. Berman of the U.S. District Court for the Southern District of New York noted that Clearwater "no longer disputes the Court's jurisdiction or that future reinsurance billings will exceed $75,000."

Century's predecessor, Insurance Company of North America, was reinsured under a treaty that was in effect …