Reinsurer Awarded $818,345 in N.Y. Federal Surety Bond Action
September 21, 2021
NEW YORK — A New York federal judge has awarded a reinsurer $818,345 in breach of contract damages, plus interest, in a case involving a construction company’s default on surety bonds issued by the reinsurer.
In a Sept. 13 order, Judge Analisa Torres of the U.S. District Court for the Southern District of New York ruled that a default judgment is appropriate because the construction company never answered the reinsurer’s complaint or otherwise defended the action.
Endurance Assurance Corp., a reinsurance corporation, agreed on Aug. 28, 2018, to issue certain surety bonds on behalf of Whitlock & Shelton Construction Inc., …