Reinsurer’s Motion For New Trial Denied; Jury Verdict Was Reasonable, Judge Says

Mealey's (March 5, 2018, 8:26 AM EST) -- UTICA, N.Y. — A New York federal judge on Feb. 28 denied a reinsurer’s motion for a new trial after determining that there was sufficient evidence for a jury to conclude that the reinsured’s settlements made on behalf of its insured for underlying asbestos claims were reasonable and that the reinsurer was obligated to follow the settlements under seven reinsurance agreements (Utica Mutual Insurance Co. v. Fireman’s Fund Insurance Co., No. 09-00853, N.D. N.Y., 2018 U.S. Dist. LEXIS 32271)....