Insurer Seeks Rehearing On 2nd Circuit’s Ruling On Reinsurer’s Liability

Mealey's (October 12, 2018, 1:46 PM EDT) -- NEW YORK — An insurer in an Oct. 9 petition asks for a rehearing of the Second Circuit U.S. Court of Appeals’ ruling that a reinsurer’s liability is expense‐supplemental because the reinsurer’s obligations under reinsurance contracts follow the insurer’s expense‐supplemental obligations under umbrella policies (Utica Mutual Insurance Co. v. Clearwater Insurance Co., Nos. 16-2535 & 16-2824, 2nd Cir.)....