Utica's $1M Asbestos Reinsurance Suit Sent To Mediation

Law360, New York (January 9, 2014, 7:32 PM EST) -- A New York magistrate judge Wednesday sent to mediation Utica Mutual Insurance Co.'s lawsuit against Clearwater Insurance Co., seeking to force the reinsurer to chip in more than $1 million toward a settlement with Goulds Pumps Inc. over thousands of asbestos injury claims.

U.S. Magistrate Judge Therese Wiley Dancks’ succinct order comes four months after the complaint was filed. Utica asked the court to declare that Clearwater breached Goulds Pumps reinsurance contracts from 1979-81 when it held back more than $1 million in payments.

The order...
To view the full article, register now.