Insurer Loses Bid for $400,000 in Attorneys’ Fees in N.Y. Federal Reinsurance Case

NEW YORK — A New York federal judge has denied a cedent’s motion for an award of $400,000 in attorneys’ fees following a ruling in its favor in a reinsurance case, agreeing with a magistrate judge that the English Rule of awarding fees to a prevailing party is procedural and would not apply.

On Aug. 5, Chief Judge Laura Taylor Swain of the U.S. District Court for the Southern District of New York adopted the magistrate judge’s finding that the American Rule, which requires each party to bear its own costs, applies to the action.

The Insurance Company of the …