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Global Reinsurance Corporation v. Century Indemnity Company
Case Number:
15-2164
Court:
Nature of Suit:
-
May 09, 2018
2nd Circ. Orders Fresh Look At Reinsurer's Asbestos Costs
The Second Circuit directed a lower court Wednesday to reassess whether Global Reinsurance Corp. of America must cover Century Indemnity Co.'s costs to defend Caterpillar in asbestos litigation beyond the reinsurer's total liability limits, after New York's highest court clarified how reinsurance contracts should be interpreted.
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December 08, 2016
2nd Circ. Asks NY High Court To Weigh Reinsurer Liability Cap
The Second Circuit asked New York's highest court Thursday to weigh in on a dispute regarding whether Global Reinsurance must cover Century Indemnity's costs to defend Caterpillar in asbestos litigation beyond the reinsurer's total liability limits, requesting guidance on whether a high court decision clarifies the issue.
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May 05, 2016
Disproportionate Payouts Irk 2nd Circ. In Reinsurance Fight
The Second Circuit on Thursday acknowledged rock-solid precedent that saw a federal judge cap Global Reinsurance Corp.'s liability for Caterpillar Tractor's asbestos legal bills at $1 million, but was troubled by the fact that primary insurer Century Indemnity Co. has paid out $60 million despite splitting the premiums with its rival.
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May 04, 2016
2nd Circ. Weighs Reinsurer Liability Limits In Asbestos Row
The Second Circuit will hear arguments Thursday on whether Global Reinsurance is obligated to cover Century Indemnity's costs to defend Caterpillar Tractor in asbestos litigation that are in excess of the reinsurer's total liability limits, in a case that experts say could have huge financial implications for insurers seeking reinsurance coverage.
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March 29, 2016
Asbestos Reinsurance Ruling Hurts Industry, 2nd Circ. Told
A group of reinsurance brokers told the Second Circuit Monday that a New York federal judge's ruling limiting Global Reinsurance Corp.'s share of the more than $60 million that Century Indemnity Co. has paid to cover Caterpillar Tractor Co. in asbestos litigation was erroneous and threatens the proper functioning of reinsurance.