Nationwide Asks Court to Vacate Arbitration Panel’s ‘Clarification’ of Prior Reinsurance Award

BOSTON — Nationwide Mutual Insurance Co. has asked a Massachusetts federal court to vacate an arbitration panel’s ruling that purportedly “clarifies” a prior arbitration award, arguing that the request for clarification was made more than 20 days after the award was issued.

In a May 7 complaint filed in the U.S. District Court for the District of Massachusetts, Nationwide further contends that the panel lacked authority to “clarify” the award because it had already been confirmed by a state court.

Nationwide reinsured Liberty Mutual Insurance Co. and Liberty Mutual Fire Insurance Co. under a series of treaties. On March 13, …