Swiss Re Seeks To Nix 9/11 Aviation Coverage Dispute

Law360, New York (June 1, 2011, 1:58 PM EDT) -- Swiss Re Europe SA urged a New York state court Tuesday to permanently stay arbitration over whether a $50 million excess reinsurance policy covered ProSight Specialty Management Co. Inc.'s aviation insurance policy losses from the Sept. 11 terrorist attacks.

ProSight initiated arbitration proceedings in New York to resolve the number of events associated with the losses arising from the terrorist hijackings and destruction of United Airlines Flight 175 and American Airlines Flight 11 at the World Trade Center on Sept. 11, but Swiss Re contends that...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.