Reinsurer To 2nd Circuit: Insurer’s $2.7M Asbestos Billings Are Not Covered

Mealey's (October 19, 2020, 2:30 PM EDT) -- NEW YORK — A 1973 reinsurance certificate covers only an insurer’s expenses that were covered by the insurance policy, a reinsurer argues in its Oct. 15 appellee brief to the Second Circuit U.S. Court of Appeals asking that the court uphold a lower court’s finding of no breach of contract with regard to denied asbestos billings of $2.7 million (Utica Mutual Insurance Company v. Munich Reinsurance America, Inc., No. 19-1241, 2nd Cir.)....