Judge Denies Petition To Vacate Arbitration Award, Grants Confirmation

Mealey's (November 15, 2016, 10:55 AM EST) -- NEW YORK — A federal judge in New York on Nov. 10 denied an insurer’s petition to vacate a reinsurance arbitration award and granted a reinsurer’s cross-petition to confirm the award, holding that the court could review only whether the arbitrators had done their job and not whether their interpretation of a reinsurance agreement was correct (Yosemite Insurance Company v. Nationwide Insurance Company, No. 16-cv-05290, S.D. N.Y.; 2016 U.S. Dist. LEXIS 157061)....

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