2nd Circuit Vacates Ruling On Reinsurer’s Liability For $5M Arbitration Award

Mealey's (April 22, 2019, 11:58 AM EDT) -- NEW YORK — An agreement between an insurer and a steel maker does not establish a reinsurer’s liability to pay a $5 million arbitration award, the Second Circuit U.S. Court of Appeals held April 18, vacating a lower court’s ruling granting enforcement of the award against the reinsurer (National Indemnity Co., et al. v. IRB Brasil Resseguros S.A., No. 18-534, 2nd Cir., 2019 U.S. App. LEXIS 11284)....