AUCRA to Appeal Confirmation of Arbitration Award in Reinsurance Dispute

SAN FRANCISCO — Applied Underwriters Captive Risk Assurance Company Inc. is appealing the confirmation of an award requiring it to pay an employer $79,167, plus $3 million in arbitrator fees in a dispute over sums owed under two reinsurance participation agreements.

In a July 17 filing, AUCRA stated that it will appeal the U.S. District Court for the Northern District of California’s ruling in the 9th Circuit U.S. Court of Appeals.

Mike Rose’s Auto Body Inc. (MRAB) entered into two reinsurance participation agreements with AUCRA in Oct. 1, 2009, and Oct. 1, 2012, respectively. Each three-year agreement provided workers’ compensation …