First State Seeks Confirmation of Final Reinsurance Arbitration Order

NEW YORK - First State Insurance Co. has asked a New York federal judge to confirm a final order issued in a reinsurance arbitration with National Casualty Co., in which the arbitration panel disposed of contract interpretation issues.

The Jan. 31 petition is before Judge Alison J. Nathan of the U.S. District Court for the District of New York.

In August 2011, First State demanded arbitration against National Casualty under three casualty excess of loss reinsurance contracts and five retrocession agreements. According to the petition, the parties agreed in March to consolidate the arbitrations.

The consolidation agreement provided that the …