Equitas Urges 2nd Cir. to Overturn $7.2 Million Reinsurance Judgment

NEW YORK — Equitas Insurance Ltd. is urging the 2nd Circuit U.S. Court of Appeals to overturn a $7.2 million reinsurance judgment issued in favor of a cedent in a case involving coverage for environmental pollution at a site owned by a Dole Food Co. subsidiary.

In an April 8 brief, Equitas contends the reinsurance certificates at issue are governed by English law; therefore, the cedent could not allocate payment for 44 years of property damage to the certificates’ three-year period. The lower court erred in adopting the “all sums” approach embraced in the United States, Equitas maintains.

Equitas further …