Reinsured Says Loss Expense Should Not Have Been Capped By Lower Court
Mealey's (October 28, 2016, 10:39 AM EDT) -- NEW YORK — An insurer argues in an Oct. 26 brief in the Second Circuit U.S. Court of Appeals that a lower court erred when it did not allow the insurer to present extrinsic evidence that would allegedly show that industry custom mandates that a reinsurer’s obligations to pay its reinsured’s underlying expenses should not be capped (Utica Mutual Insurance Company v. Clearwater Insurance Company, No. 16-cv-2824, 2nd Cir.).
(Brief and special appendix of appellant-cross-appellee available. Document #12-161104-007B.)