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US Insurers Want Door Shut On $50M Brazilian Bank Claim

Law360 (February 14, 2018, 6:00 PM EST) -- Two U.S. insurers have urged a New York federal court to uphold an arbitral award dismissing a Brazilian banking and financial services company's $50 million policy claim against them, arguing that the bank's bid to recoup its losses ignores the great deference courts give to foreign arbitration.

Insurers Steadfast Insurance Co. and Ironshore Specialty Insurance Co. argued Monday that courts generally confirm arbitral awards if they have jurisdiction and doing so won't violate U.S. public policy goals against inconsistent judgments. Those hurdles, established by the Federal Arbitration...
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