N.Y. Appellate Court Reinstates Interest Claims Against Munich Re in Reinsurance Action
March 20, 2023
ROCHESTER, N.Y. — A New York appellate court has reinstated a lawsuit filed by Utica Mutual Insurance Co. to the extent it seeks interest from Munich Reinsurance America Inc. on allegedly late loss payments in a dispute over reinsurance for underlying asbestos claims against Burnham Corp.
In a March 17 amended opinion, the New York Appellate Division, 4th Department, explained that Munich Re failed to "sufficiently demonstrate entitlement to judgment, as a matter of law, by tender of evidentiary proof in admissible form.”
However, the panel upheld the trial court’s ruling that Utica is not entitled to sums it spent …
- Hunton & Williams
- Rubin Fiorella & Friedman