Motions for Summary Judgment Denied in N.Y. Federal Reinsurance Action

NEW YORK — A New York federal judge has denied cross-motions for summary judgment in a dispute over whether a reinsurer is liable to pay toward the settlement of an underlying coverage action filed by Duke Energy, ruling that the parties’ competing interpretations of the reinsurance certificates are both reasonable.

In a March 3 order, Judge Nelson S. Roman of the U.S. District Court for the Southern District of New York denied motions filed by plaintiffs TIG Insurance Co., Associated Electric and Gas Insurance Services Ltd. (AEGIS) and defendant Swiss Re.

In the early 1980s, Ranger Insurance Co. — TIG …