Reinsurer Seeks New Trial Over $6.25M Judgment In Asbestos Settlements Dispute

Mealey's (October 22, 2019, 2:41 PM EDT) -- UTICA, N.Y. — After a $6.25 million judgment was entered against it in a dispute concerning two separate reinsurance certificates and coverage for settlements of asbestos claims, a reinsurer asks on Oct. 18 that a New York federal court grant judgment as a matter of law on an insurer’s breach of contract claims and affirmative defenses and, in the alternative, grant a new trial on the insurer’s breach of contract claims and the reinsurer’s claim for breach of the duty of utmost good faith (Utica Mutual Insurance Co. v. Century Indemnity Co., No. 13-995, N.D. N.Y.)....