Chicago Re Drops Appeal of Ruling Requiring it to Arbitrate Before Previously Appointed Panel
October 30, 2020
NEW YORK — Chicago Reinsurance Co. has dropped its appeal of a New York federal judge’s ruling that it must arbitrate a reinsurance billing dispute involving an underlying asbestos settlement before a previously appointed arbitration panel.
According to a recent filing in the 2nd Circuit U.S. Court of Appeals, Chicago dismissed its appeal of the judge’s ruling that the underlying settlement comports with a 2017 arbitration award.
General Reinsurance Corp. and SCOR Reinsurance Co. reinsured Chicago Insurance Co. under a Second Layer Special Casualty Excess Agreement of Reinsurance from Jan. 1, 1981, to Dec. 31, 1982. As part of the …