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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