Workers Comp Insurer, UK Reinsurers Settle Coverage Battle
By Jeff Sistrunk (December 7, 2018, 4:49 PM EST) -- A Florida workers compensation insurer and a group of British reinsurers have agreed to settle a dispute over reinsurance payments for construction site injuries, six months after the Second Circuit asked a court to take a second look at whether a $1.5 million award against the reinsurers was tainted by an arbitrator's bias.
In an order signed Thursday, U.S. District Judge Vernon S. Broderick of the Southern District of New York approved a stipulation of dismissal between the receiver for the now-defunct Insurance Co. of the Americas and a group of Lloyd's of London underwriters.
The stipulation indicated that ICA and...
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