First State, SCOR to Arbitrate $6.9 Million Dispute, According to Status Report
November 7, 2022
- Joint Status Report
HARTFORD, Conn. — First State Insurance Co. and SCOR Reinsurance Co. will arbitrate their dispute over a $6.9 million reinsurance billing for an underlying environmental action, according to a recent filing in Connecticut federal court.
In a Nov. 4 joint status report, the parties explained to Judge Victor A. Bolden of the U.S. District Court for the District of Connecticut that they will resolve the matter through private arbitration.
In the action, First State alleges SCOR is liable for the portion of the underlying settlement pursuant to the SCOR reinsurance certificate’s “follow the settlements” provision.
The certificate reinsures an excess …