9th Circ. Affirms $450M Award In Reinsurance Spat

Law360, New York (January 5, 2010, 7:04 PM EST) -- A federal appeals court has affirmed a $450 million arbitration award in favor of bankrupt Superior National Insurance Co. in a dispute with U.S. Life Insurance Co. over reinsurance coverage for workers' compensation insurance policies.

The U.S. Court of Appeals for the Ninth Circuit issued a ruling Monday finding that an arbitration panel which heard the dispute did not violate the Federal Arbitration Act and that the process provided the parties with a fundamentally fair arbitration.

The dispute concerned reinsurance for workers' compensation insurance coverage offered...
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