ICSOP Urges N.Y. Federal Judge to Award it $400,000 in Costs in Dispute with Equitas

NEW YORK — The Insurance Company of the State of Pennsylvania (ICSOP) has told a New York federal judge that as the prevailing party in a reinsurance contract dispute with Equitas Insurance Ltd., it is entitled to $400,000 in litigation costs under English law.

In an Oct. 20 reply filed in the U.S. District Court for the Southern District of New York, ICSOP contends that the so-called English Rule entitles the prevailing party to recover attorneys’ fees applies where, as in the instant case, the claim arises under a contract the parties agreed from the outset would be governed by …