Clarendon Owes $4M In Reinsurance Dispute: Judge

Law360, New York (January 17, 2012, 7:24 PM EST) -- A New York federal judge on Friday ordered Clarendon National Insurance Co. to pay $4.1 million to Trustmark Insurance Co. to resolve the parties' dispute over how a previous arbitration award should be allocated under their reinsurance contracts.

In granting Trustmark's cross-motion for summary judgment while denying Clarendon's motion for summary judgment, U.S. District Judge Barbara S. Jones ruled that Clarendon had not fulfilled its obligation to pay the $7.9 million arbitration award Trustmark won in 2009.

However, Clarendon did not owe the full balance of...
To view the full article, register now.

Documents

Related

Sections

Case Information

Case Title

Clarendon National Insurance Company et al v. Trustmark Insurance Company


Case Number

1:09-cv-09896

Court

New York Southern

Nature of Suit

Contract: Other

Judge

Barbara S. Jones

Date Filed

December 2, 2009

Law Firms

Companies

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.