Munich Re Urges 2nd Cir. to Uphold Favorable Defense Expenses Ruling

NEW YORK — Munich Reinsurance America Inc. is urging a federal appeals court to uphold a ruling that it is not required to pay $2.76 million in defense expenses that Utica Mutual Insurance Co. incurred in connection with underlying asbestos claims filed against its insured, Goulds Pumps Inc.

In an Oct. 15 brief filed in the 2nd Circuit U.S. Court of Appeals, Munich Re asserts that the findings by the U.S. District Court for the Northern District of New York are in line with the terms of the reinsurance certificate at issue and the underlying policy.

In the 1970s, Utica …