Lloyd’s Underwriters Ask Mass. Federal Court to Confirm Reinsurance Arbitration Award

BOSTON — Certain Underwriters at Lloyd’s London have asked a Massachusetts federal court to confirm an arbitration award that resolved a dispute over reinsurance billings submitted by Transport Insurance Co.

In a June 11 petition filed in the U.S. District Court for the District of Massachusetts, Underwriters assert that none of the bases for vacatur of the award exist and Transport is not challenging confirmation.

Transport Insurance Co. insured chemical manufacturer Vulcan Materials Co. under liability policies in effect between 1963 and 1981. The policies were reinsured under three reinsurance treaties in effect from 1977 to 1981.

“Each of …