Judge Grants Reinsured Insurer $940,433 In Prejudgment Interest
Mealey's (July 19, 2016, 10:29 AM EDT) -- ALBANY, N.Y. — A federal judge in New York issued a summary order on July 14 ordering a reinsurer to pay its reinsured nearly $1 million in prejudgment interest on a nearly $6 million principal award regarding an asbestos-related settlement agreement between the reinsured and its insured (Utica Mutual Insurance Co. v. Clearwater Insurance Co., No. 13-1178, N.D. N.Y.; 2016 U.S. Dist. LEXIS 91413).
(Summary order available. Document #12-160805-001R.)
Utica Mutual Insurance Co. sued Clearwater Insurance Co. in the U.S. District Court for the Northern District...