$8.4M In Prejudgment Interest Would Be Improper Windfall, Reinsurer Argues

Mealey's (August 24, 2021, 2:32 PM EDT) -- ALBANY, N.Y. — The $8,444,834 in prejudgment interest that an insurer seeks would constitute an improper windfall under New York law, a reinsurer on Aug. 19 told a federal judge in New York in a dispute over defense costs paid for asbestos liabilities, opposing an insurer’s motion to correct or amend a $10,901,005 judgment in the insurer’s favor to include prejudgment interest....