Brazilian Reinsurer Says No Duty To Indemnify $5M Under Arbitration Award

Mealey's (June 19, 2017, 1:53 PM EDT) -- NEW YORK — A Brazilian reinsurer on June 14 argued that a New York federal court should deny an insurer’s request for $5 million under an arbitration award in order to pay a settlement it reached with a steelmaker because the settlement does not require reinsurance coverage (National Indemnity Co. v. IRB Brasil Resseguros S.A., No. 15-3975, S.D. N.Y.)....