Berkley Seeks Confirmation of Reinsurance Arbitration Award in $2.9 Million Dispute

NEW YORK — Berkley Insurance Co. has petitioned a New York federal court to confirm a reinsurance arbitration award that allegedly completely resolved a $2.9 million billing dispute with Excalibur Reinsurance Corp.

In an April 22 petition filed in the U.S. District Court for the Southern District of New York, Berkley maintains that the arbitrators’ interpretation of the reinsurance treaties fully comported with their terms and the terms of the underlying policies.

More than a decade ago, Excalibur’s predecessor, Caliber One Insurance Co., reinsured certain of its primary casualty business with Berkley’s predecessor, Signet Star Reinsurance Co. The parties entered …