N.Y. Federal Judge Confirms Reinsurance Arbitration Award that Was Already Paid

NEW YORK — A federal district court has jurisdiction to confirm a reinsurance arbitration award that has already been paid, a New York federal judge has ruled, noting that the Federal Arbitration Act does not require courts to consider the subsequent question of compliance.

In a March 24 order, Judge Denise Cote of the U.S. District Court for the Southern District of New York confirmed the $1.2 million award, explaining that the 2nd Circuit has held that “prior compliance is not a ground for refusal of confirmation.”

NCC and Resolute are parties to a reinsurance agreement which contains an arbitration …