Reinsurer Appeals Finding That It Must Pay Reinsured’s Settlement Expenses
(March 2, 2016, 7:55 AM EST) -- ALBANY, N.Y. — A reinsurer on Feb. 18 appealed to the Second Circuit U.S. Court of Appeals a New York federal court ruling in which the court held that the reinsurer must indemnify its reinsured for settlement expenses incurred in settling asbestos bodily injury claims (Utica Mutual Insurance Co. v. Clearwater Insurance Co., No. 13-1178, N.D. N.Y.).
(Notice of appeal available. Document #12-160304-014X.)
Utica Mutual Insurance Co. sued Clearwater Insurance Co. in the U.S. District Court for the Northern District of New York on Sept. 20,...