Reinsurer Wants 2nd Circ. To Stop Asbestos Billing Appeal

Law360 (October 16, 2020, 5:05 PM EDT) -- Munich Reinsurance America Inc. is urging the Second Circuit to uphold a ruling finding that it does not owe Utica Mutual Insurance Co. $2.7 million in expenses stemming from asbestos verdicts, saying the lower court was correct in finding its reinsurance agreement didn't include those costs.

In a 79-page brief filed Thursday, Munich took aim at an appeal by Utica seeking to overturn the judgment, saying that the district court was right to find that the facultative certificate between the companies only stipulated that Munich cover $5 million of the umbrella policy Utica issued to Goulds Pumps Inc., and that after...

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