N.Y. Federal Judge Permanently Seals Confirmed Reinsurance Arbitration Award

NEW YORK — A New York federal judge has granted a request by Continental Insurance Co. and Transamerica Reinsurance Co. to maintain a confirmed arbitration award under seal, accepting their argument that making the award public would undermine the arbitration process and contravene the parties’ confidentiality agreement.

Judge Valerie E. Caproni of the U.S. District Court for the Southern District of New York issued the order without comment on May 9.

CIC issued WCI a policy that was in effect from 1984 to 1985. Transamerica’s predecessor, TIG Premier Insurance Co., reinsured the policy pursuant to a facultative certificate effective the …