Lloyd’s Underwriters' Challenge of Award Confirmation Time-Barred, N.Y. Federal Judge Rules

NEW YORK — Certain Underwriters at Lloyd’s of London are barred from seeking relief from a final judgment confirming an arbitration award because they failed to do so within three months of the award’s issuance, a New York federal judge has ruled.

In a May 14 order, Judge Denise Cote of the U.S. District Court for the Southern District of New York explained that the three-month deadline applies to challenges of a party’s conduct not only in arbitration proceedings, but also in confirmation proceedings.

Underwriters were asked to participate on Arrowood Insurance Co.’s new “Global Slip” reinsurance program, which incepted …