Platinum's Reinsurance Arbitration Win Gets Judge's OK

Law360, New York (July 17, 2013, 9:00 PM ET) -- A Pennsylvania federal judge on Monday declined to undo an arbitration ruling that allowed Platinum Underwriters Bermuda Ltd. to keep certain premiums it collected from an Excalibur Reinsurance Corp. predecessor under a decade-old reinsurance contract.

Saying a panel of arbitrators had not acted irrationally, U.S. District Judge Paul S. Diamond panned Excalibur’s attempt to vacate the final ruling. The company had challenged two portions of the decision, which went against its predecessor company PMA Capital Insurance Co., criticizing one prong as interpreting the 2003 contract too...
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