N.Y. Judge Denies AIG Summary Judgment in Reinsurance Dispute with Transatlantic
January 9, 2014
NEW YORK — A New York state judge has refused to grant a motion for partial summary judgment asserted by certain American International Group insurers in a reinsurance dispute with Transatlantic Reinsurance Corp., finding issues of fact as to whether a 2011 transfer of asbestos losses to other insurers was a breach of the facultative reinsurance certificates.
On Dec. 23, Judge O. Peter Sherwood of the New York County Supreme Court also found material questions of fact as to whether TRC could object to payments made after the 2011 transfer and whether it is entitled to reimbursement of payments made …
- Ford Marrin Esposito Witmeyer & Gleser
- Simpson Thatcher & Bartlett