September 25, 2018
The Second Circuit on Tuesday reversed an order requiring reinsurer Clearwater Insurance Co. to shell out $6.9 million to help Utica Mutual Insurance Co. defray the cost of asbestos-related claims against a pump manufacturer, directing a lower court to assess whether Clearwater is obligated to pay for such claims and, if so, how much.
February 02, 2017
Reinsurer Clearwater Insurance Co. urged the Second Circuit Wednesday to undo a lower court's ruling that handed Utica Insurance $7.5 million and a pass on intentionally restructuring a massive asbestos claim settlement on behalf of its pump manufacturer policyholder in order to maximize its reinsurance recovery.