Aioi Nissay Scores $5M Win In 9/11 Row With Aviation Insurer

Law360, New York (June 20, 2013, 7:52 PM EDT) -- A New York federal judge Thursday hit aviation insurer ProSight Specialty Management Co. with a $5.1 million judgment for overbilling Japanese reinsurer Aioi Nissay Dowa Insurance Co. following the Sept. 11 terrorist attacks and several plane crashes. 

Following a trial, U.S. District Judge J. Paul Oetken concluded that ProSight charged $3.5 million more than it should have to Aioi for a special type of reinsurance premium that Aioi agreed to cover after ProSight suffered losses. Judge Oetken also awarded Aioi prejudgment interest on top of the...
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