Reinsurer Declines To Oppose Insured’s Motion To Intervene In Dispute Over $5M Claim

Mealey's (July 18, 2017, 9:12 AM EDT) -- NEW YORK — A Brazilian reinsurer told a New York federal court on July 14 that it will not oppose a steel maker’s request to intervene in an insurer’s lawsuit seeking to require the reinsurer to cover a $5 million settlement with the insured under an arbitration award (National Indemnity Co. v. IRB Brasil Resseguros S.A., No. 15-3975, S.D. N.Y.)....