United States:
Final Judgment Entered And Notice Of Appeal Filed In Longstanding Reinsurance Dispute
17 August 2016
Carlton Fields
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In the ongoing reinsurance dispute between cedent Utica Mutual
Insurance Company and reinsurer Clearwater Insurance Company, about
which we most recently posted on
February 9, 2016, two developments occurred on July 14, 2016.
First, the district court entered final judgment and resolved the
dispute between the parties regarding the calculation of nearly $1
million in prejudgment interest on the multiple billings for
reinsurance made by Utica to Clearwater. And second, the Utica
filed a notice of appeal to the Second Circuit from various prior
rulings to the extent those rulings imposed a cap on the amount
that it is entitled to recover. Utica Mutual Insurance Co. v.
Clearwater Insurance Co., Case No. 6:13-cv-01178 (USDC
N.D.N.Y. July 14, 2016) (
Summary Order &
Notice of Appeal).
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