New York Judge Confirms $3 Million Award Against Global Re

NEW YORK -- A New York federal judge has confirmed a final arbitration award that holds Global Reinsurance Corp. liable for $3 million to a cedent for the defense and resolution of underlying asbestos claims brought against Coca-Cola Co. Employers' Surplus Lines Insurance Co. v. Global Reinsurance Corp., No. 07 Civ. 2521 (S.D. N.Y. ).

Judge Harold Baer Jr. of the U.S. District Court for the Southern District of New York ordered Global to pay Employers' Surplus Lines Insurance Co. $3 million, plus $235,442.52 in interest.

From 1969 through 1973, Global reinsured an excess umbrella policy issued by Employers' …